Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Apr. 30, 2017 | May 31, 2017 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Cloudera, Inc. | |
Entity Central Index Key | 1,535,379 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Non-accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Apr. 30, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 131,142,735 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 51,572 | $ 74,186 |
Short-term marketable securities | 170,202 | 160,770 |
Accounts receivable, net | 53,022 | 101,549 |
Prepaid expenses and other current assets | 13,552 | 13,197 |
Total current assets | 288,348 | 349,702 |
Property and equipment, net | 10,617 | 13,104 |
Marketable securities, noncurrent | 38,117 | 20,710 |
Intangible assets, net | 6,107 | 7,051 |
Goodwill | 31,516 | 31,516 |
Restricted cash | 15,448 | 15,446 |
Other assets | 6,973 | 5,015 |
TOTAL ASSETS | 397,126 | 442,544 |
CURRENT LIABILITIES: | ||
Accounts payable | 2,421 | 3,550 |
Accrued compensation | 20,709 | 33,376 |
Other accrued liabilities | 12,788 | 9,918 |
Deferred revenue, current portion | 186,683 | 192,242 |
Total current liabilities | 222,601 | 239,086 |
Deferred revenue, less current portion | 26,313 | 25,182 |
Other liabilities | 3,993 | 4,345 |
TOTAL LIABILITIES | 252,907 | 268,613 |
Commitments and contingencies | ||
Redeemable convertible preferred stock | 657,687 | 657,687 |
STOCKHOLDERS’ DEFICIT: | ||
Common stock | 2 | 2 |
Additional paid-in capital | 385,359 | 192,795 |
Accumulated other comprehensive loss | (513) | (556) |
Accumulated deficit | (898,316) | (675,997) |
TOTAL STOCKHOLDERS’ DEFICIT | (513,468) | (483,756) |
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT | $ 397,126 | $ 442,544 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | ||
Apr. 30, 2017 | Apr. 30, 2016 | ||
Revenue: | |||
Subscription | $ 64,671 | $ 40,672 | |
Services | 14,925 | 15,813 | |
Total revenue | 79,596 | 56,485 | |
Cost of revenue: | |||
Subscription | [1],[2] | 26,472 | 9,351 |
Services | [1],[2] | 33,640 | 11,684 |
Total cost of revenue | [1],[2] | 60,112 | 21,035 |
Gross profit | 19,484 | 35,450 | |
Operating expenses: | |||
Research and development | [1],[2] | 95,831 | 24,515 |
Sales and marketing | [1],[2] | 110,443 | 46,142 |
General and administrative | [1],[2] | 35,550 | 8,309 |
Total operating expenses | [1],[2] | 241,824 | 78,966 |
Loss from operations | (222,340) | (43,516) | |
Interest income, net | 649 | 740 | |
Other income, net | 22 | 163 | |
Net loss before provision for income taxes | (221,669) | (42,613) | |
Provision for income taxes | (650) | (500) | |
Net loss | $ (222,319) | $ (43,113) | |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (5.78) | $ (1.20) | |
Weighted-average shares used in computing net loss attributable to common stockholders, basic and diluted (in shares) | 38,487,424 | 35,920,537 | |
[1] | Amounts include amortization of acquired intangible assets as follows (in thousands): Three Months Ended April 30, 2017 2016Cost of revenue – subscription $514 $455Sales and marketing 430 430 | ||
[2] | Amounts include stock‑based compensation expense as follows (in thousands): Three Months Ended April 30, 2017 2016Cost of revenue – subscription $15,700 $334Cost of revenue – services 20,337 474Research and development 67,901 1,555Sales and marketing 60,541 1,559General and administrative 26,603 1,741 |
Condensed Consolidated Stateme4
Condensed Consolidated Statements of Operations - Parenthetical - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Amortization expense of intangible assets | $ 900 | $ 900 |
Cost of revenue – subscription | ||
Stock-based compensation expense | 15,700 | 334 |
Amortization expense of intangible assets | 514 | 455 |
Cost of revenue – services | ||
Stock-based compensation expense | 20,337 | 474 |
Research and development | ||
Stock-based compensation expense | 67,901 | 1,555 |
Sales and marketing | ||
Stock-based compensation expense | 60,541 | 1,559 |
Amortization expense of intangible assets | 430 | 430 |
General and administrative | ||
Stock-based compensation expense | $ 26,603 | $ 1,741 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (222,319) | $ (43,113) |
Other comprehensive income, net of tax: | ||
Foreign currency translation gains | 8 | 237 |
Unrealized gain on investments | 35 | 269 |
Total other comprehensive income, net of tax | 43 | 506 |
Comprehensive loss | $ (222,276) | $ (42,607) |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (222,319) | $ (43,113) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 3,642 | 2,405 |
Stock-based compensation | 191,082 | 5,663 |
Accretion and amortization of marketable securities | 542 | 782 |
Changes in assets and liabilities: | ||
Accounts receivable | 48,527 | 15,863 |
Prepaid expenses and other assets | 1,379 | 1,319 |
Accounts payable | (1,921) | (972) |
Accrued compensation | (12,667) | (9,437) |
Accrued expenses and other liabilities | 1,142 | 855 |
Deferred revenue | (4,428) | 3,081 |
Net cash provided by (used in) operating activities | 4,979 | (23,554) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of marketable securities | (110,347) | (40,044) |
Sales of marketable securities | 31,675 | 19,441 |
Maturities of marketable securities | 51,420 | 64,665 |
Cash used in business combinations, net of cash acquired | 0 | (2,700) |
Capital expenditures | (175) | (5,149) |
Net cash provided by (used in) investing activities | (27,427) | 36,213 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from exercise of stock options | 1,482 | 829 |
Payment of deferred offering costs | (1,647) | 0 |
Net cash provided by (used in) financing activities | (165) | 829 |
Effect of exchange rate changes | 1 | 238 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (22,612) | 13,726 |
Cash, cash equivalents and restricted cash — Beginning of period | 89,632 | 35,994 |
Cash, cash equivalents and restricted cash — End of period | 67,020 | 49,720 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Cash paid for income taxes | 629 | 397 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
Purchases of property and equipment in other accrued liabilities | 71 | 419 |
Deferred offering costs in accounts payable and other accrued liabilities | $ 1,190 | $ 0 |
Organization and Description of
Organization and Description of Business | 3 Months Ended |
Apr. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of Business Cloudera, Inc. was incorporated in the state of Delaware on June 27, 2008 and is headquartered in Palo Alto, California. We sell subscriptions and services for our data management, machine learning and advanced analytics platform. This platform delivers an integrated suite of capabilities for data management, machine learning and advanced analytics, affording customers an agile, scalable and cost‑effective solution for transforming their businesses. Unless the context requires otherwise, the words “we,” “us,” “our,” the “Company” and “Cloudera” refer to Cloudera, Inc. and its subsidiaries taken as a whole. As of April 30, 2017 and January 31, 2017 , we have an accumulated deficit totaling $898.3 million and $676.0 million . We have funded our operations primarily with the net proceeds from private placements of redeemable convertible preferred stock and proceeds from the sale of our subscriptions and services. Management believes that currently available resources will be sufficient to fund our cash requirements for at least the next twelve months. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Apr. 30, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The condensed consolidated financial statements include the results of Cloudera, Inc. and its wholly owned subsidiaries which are located in various countries, including the United States, Australia, China, Germany, Hungary and the United Kingdom. All intercompany balances and transactions have been eliminated upon consolidation. The condensed consolidated balance sheet as of January 31, 2017 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by GAAP for complete financial statements. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of our management, the information contained herein reflects all adjustments necessary for a fair presentation of our results of operations, financial position and cash flows. All such adjustments are of a normal, recurring nature. The results of operations for the three months ended April 30, 2017 are not necessarily indicative of results to be expected for the full year ending January 31, 2018 or for any other interim period or for any other future year. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended January 31, 2017 , included in our prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the SEC on April 28, 2017. Significant Accounting Policies There have been no changes to our significant accounting policies described in the prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on April 28, 2017. Fiscal Year Our fiscal year ends on January 31. References to fiscal 2018 , for example, refers to the fiscal year ended January 31, 2018 . Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant items subject to such estimates include revenue recognition, the useful lives of property and equipment and intangible assets, allowance for doubtful accounts, stock‑based compensation expense, annual bonus attainment, self‑insurance costs incurred, the fair value of tangible and intangible assets acquired and liabilities assumed resulting from business combinations, the fair value of common stock, the assessment of elements in a multi‑element arrangement and the valuation assigned to each element, and contingencies. These estimates and assumptions are based on management’s best estimates and judgment. Management regularly evaluates its estimates and assumptions using historical experience and other factors; however, actual results could differ significantly from these estimates. Segments We operate as two operating segments – subscription and services. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker, who is our chief executive officer, in deciding how to allocate resources and assessing performance. Cash, Cash Equivalents and Restricted Cash Cash equivalents consist of short term, highly liquid investments with original maturities of three months or less from the date of purchase. Restricted cash represents cash on deposit with financial institutions in support of letters of credit outstanding in favor of certain landlords for office space. Cash as reported on the condensed consolidated statements of cash flows includes the aggregate amounts of cash and cash equivalents and the restricted cash as shown on the condensed consolidated balance sheets. Cash as reported on the condensed consolidated statements of cash flows consists of the following (in thousands): As of April 30, 2017 2016 Cash and cash equivalents $ 51,572 $ 49,691 Restricted cash 15,448 29 Cash, cash equivalents and restricted cash $ 67,020 $ 49,720 Concentration of Credit Risk and Significant Customers Financial instruments that subject us to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, restricted cash, and accounts receivable. Our cash is deposited with high credit quality financial institutions. At times such deposits may be in excess of the Federal Depository Insurance Corporation insured limits. We have not experienced any losses on these deposits. At April 30, 2017 , no single customer represented more than 10% of accounts receivable. At January 31, 2017 , one customer represented 21% of accounts receivable. For the three months ended April 30, 2017 and 2016 , no single customer accounted for 10% or more of revenue. Deferred Offering Costs Deferred offering costs, which consist of direct incremental legal, consulting, banking and accounting fees relating to anticipated equity offerings, are capitalized and will be offset against proceeds upon the consummation of our initial public offering (IPO) on May 3, 2017. As of April 30, 2017 and January 31, 2017 , there were $4.9 million and $2.8 million of capitalized deferred offering costs in other assets on the consolidated balance sheet, respectively. These amounts will be recorded against the gross proceeds from the IPO in the second fiscal quarter. Revenue Recognition We generate revenue from subscriptions and services. Subscription arrangements are typically one to three years in length but may be up to seven years in limited cases. Arrangements with our customers typically do not include general rights of return. Incremental direct costs incurred related to the acquisition or origination of a customer contract are expensed as incurred. Revenue recognition commences when all of the following criteria are met: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the fee is fixed or determinable; and (iv) collection is probable. Subscription revenue Subscription revenue relates to term (or time‑based) subscription agreements for both open source and proprietary software. Subscriptions include internet, email and phone support, bug fixes, and the right to receive unspecified software updates and upgrades released when and if available during the subscription term. Revenue for subscription arrangements is recognized ratably over the contractual term of the arrangement beginning on the date access to the subscription is made available to the customer. Services revenue Services revenue relates to professional services for the implementation and use of our subscriptions, training and education services and related reimbursable travel costs. For time and materials and fixed fee arrangements, revenue is recognized as the services are performed or upon acceptance, if applicable. For milestone‑based arrangements, revenue is recognized upon acceptance or subsequent to completion upon the lapse of any acceptance period. Revenue for training and education services is recognized upon delivery, except for On‑Demand Training, which is recognized ratably over the contractual term. Multiple ‑ element arrangements Arrangements with our customers generally include multiple elements such as subscription and services. We allocate revenue to each element of the arrangement based on vendor‑specific objective evidence of each element’s fair value (VSOE) when we can demonstrate sufficient evidence of the fair value. VSOE for elements of an arrangement is based upon the normal pricing and discounting practices for those elements when sold separately on a stand‑alone basis. We have established VSOE for some of our services. If VSOE for one or more undelivered elements does not exist, revenue recognition does not commence until delivery of both the subscription and services have commenced, or when VSOE of the undelivered elements has been established. Once revenue recognition commences, revenue for the arrangement is recognized ratably over the longest service period in the arrangement . Reseller arrangements We recognize subscription revenue for sales through resellers or other indirect sales channels. Subscription revenue from these sales is generally recognized upon sell‑through to an end user customer. Subscription revenue from these sales does not commence until cash is collected where payments to us are believed to be contingent upon payment by the end user to the reseller. Deferred revenue Deferred revenue consists of amounts billed to or collected from customers under a binding agreement provided delivery of the related subscription and services has commenced. Stock‑Based Compensation We recognize stock‑based compensation expense for all stock‑based payments. Employee stock‑based compensation cost is estimated at the grant date based on the fair value of the equity for financial reporting purposes and is recognized as expense over the requisite service period. Fair value of our common stock for financial reporting purposes is determined considering numerous objective and subjective factors and requires judgment to determine the fair value of common stock for financial reporting purposes as of the date of each equity grant or modification. These objective and subjective factors include, but are not limited to: • relevant precedent transactions involving our capital stock; • contemporaneous valuations performed by third party specialists; • rights, preferences, and privileges of our redeemable convertible preferred stock relative to those of our common stock; • actual operating and financial performance; • current business conditions and financial projections; • likelihood of achieving a liquidity event, such as an initial public offering or a sale of our business; • the lack of marketability of our common stock, and the illiquidity of stock‑based awards involving securities in a private company; • recent secondary stock sales; • market multiples of comparable publicly‑traded companies; • stage of development; • industry information such as market size and growth; and • U.S. and global capital market and macroeconomic conditions. We have elected to calculate the fair value of options based on the Black‑Scholes option‑pricing model. The Black‑Scholes model requires the use of various assumptions including expected option life and expected stock price volatility. We estimate the expected term for stock options using the simplified method due to the lack of historical exercise activity. The simplified method calculates the expected term as the midpoint between the vesting date and the contractual expiration date of the award. We estimate the options’ volatility using volatilities of a group of public companies in a comparable industry, stage of life cycle, and size. The interest rate is derived from government bonds with a similar term as the options’ expected lives. We have not declared nor do we expect to declare dividends. Therefore, there is no dividend impact on the valuation of options. We are using the straight‑line (single‑option) method for employee expense attribution for stock options. We have granted RSUs to our employees and members of our board of directors under the 2008 Equity Incentive Plan, or the 2008 Plan. The employee RSUs vest upon the satisfaction of both a service‑based condition and a liquidity event‑related performance condition. The service‑based condition for the majority of these awards is generally satisfied pro‑rata over four years . The liquidity event‑related performance condition is satisfied upon the occurrence of a qualifying liquidity event, such as the effective date of an IPO, or six months following the effective date of an IPO. During the quarter ended April 30, 2017, the majority of RSUs were modified such that the liquidity event‑related performance condition is satisfied upon the effective date of an IPO, rather than six months following an IPO. The modification established a new measurement date for these modified RSUs. The liquidity event‑related performance condition is viewed as a performance‑based criterion for which the achievement of such liquidity event is not deemed probable for accounting purposes until the event occurs. The liquidity event‑related performance condition was achieved for the majority of our RSUs and became probable of being achieved for the remaining RSUs on April 27, 2017, the effective date of our IPO. We recognized stock‑based compensation expense using the accelerated attribution method with a cumulative catch‑up of stock‑based compensation expense in the amount of $181.5 million attributable to service prior to such effective date. Shares subject to RSUs in which the liquidity event-related performance condition was satisfied upon the effective date of the IPO will be issued on a date to be determined by the board of directors that will be after the second full trading day following the release of earnings by us for the second quarter of fiscal 2018 to the extent the service‑based condition has been met. Stock‑based compensation expense is also recorded when a holder of an economic interest in Cloudera purchases shares from an employee for an amount in excess of the fair value of the common stock at the time of the purchase. We recognize any excess value transferred in these transactions as stock‑based compensation expense in the consolidated statement of operations. Options and other equity awards granted to non‑employees are accounted for at their estimated fair value using the Black‑Scholes method. These awards are subject to periodic re‑measurement over the period during which services are rendered. Stock‑based compensation expense is recognized over the vesting period on a straight‑line basis. Net Loss Per Share Attributable to Common Stockholders We follow the two‑class method when computing net loss per common share as we issue shares that meet the definition of participating securities. The two‑class method determines net income (loss) per common share for each class of common stock and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two‑class method requires income available to common stockholders for the period to be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. Our redeemable convertible preferred stock contractually entitles the holders of such shares to participate in dividends, but does not contractually require the holders of such shares to participate in our losses. For periods in which we have reported net losses, diluted net loss per common share attributable to common stockholders is the same as basic net loss per common share attributable to common stockholders, because potentially dilutive common shares are not assumed to have been issued if their effect is anti‑dilutive. JOBS Act Accounting Election We are an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. We have elected to retain the ability to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, our financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016‑09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share‑Based Payment Accounting , or ASU 2016‑09, which simplifies the accounting and reporting of share‑based payment transactions, including adjustments to how excess tax benefits and payments for tax withholdings should be classified and provides the election to eliminate the estimate for forfeitures. For public entities, this standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. For all other entities, this standard is effective for annual reporting periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for any entity in any interim or annual period for which financial statements have not been issued or made available for issuance. We have early adopted this standard in the first quarter of fiscal 2018. As a result of this adoption, we have elected to account for forfeitures as they occur. The adoption of this standard did not have a material impact on our consolidated financial statements. Recently Issued Accounting Standards In May 2014, the FASB issued ASU No. 2014‑09, Revenue from Contracts with Customers (Topic 606) , or ASU 2014‑09, which amended the existing FASB Accounting Standards Codification. ASU 2014‑09 establishes a principle for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services and also provides guidance on the recognition of costs related to obtaining and fulfilling customer contracts. For public entities, this standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. For all other entities, this standard is effective for annual reporting periods beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. Early adoption is permitted, but may not be adopted by us any earlier than February 1, 2017. We are currently in the process of assessing the adoption methodology, which allows ASU 2014‑09 to be applied either retrospectively to each prior period presented or with the cumulative effect recognized as of the date of initial application. Our final determination will depend on a number of factors, such as the significance of the impact of the new standard on our financial results, system readiness, including that of software procured from third‑party providers, and our ability to accumulate and analyze the information necessary to assess the impact on prior period financial statements, as necessary. We are also currently evaluating the impact ASU 2014‑09 will have on our consolidated financial statements. We are in the initial stages of our evaluation of the impact of ASU 2014‑09 on our accounting policies, processes, and system requirements. We have assigned internal resources in addition to engaging third party service providers to assist in the evaluation. While we continue to assess all potential impacts under ASU 2014‑09, there is the potential for significant impacts to the timing of our revenue recognition and contract acquisition costs, such as sales commissions. Accounting for certain sales commissions under ASU 2014‑09 is different than our current accounting policy which is to expense sales commissions as incurred whereas such costs will be deferred and amortized under ASU 2014‑09. Additionally, we preliminarily believe that the amortization period for such deferred commission costs will be longer than the contract term, as ASU 2014‑09 requires entities to determine whether the costs relate to specific anticipated contracts. While we continue to assess the potential impacts of ASU 2014‑09, including the areas described above, and anticipate ASU 2014‑09 could have a material impact on our consolidated financial statements, we do not know or cannot reasonably estimate the quantitative impact on our financial statements at this time. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting , or ASU 2017-09, which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under ASU 2017-09, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. This standard is effective for all entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements. |
Cash Equivalents and Marketable
Cash Equivalents and Marketable Securities | 3 Months Ended |
Apr. 30, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Cash Equivalents and Marketable Securities | Cash Equivalents and Marketable Securities The following are the fair values of our cash equivalents and marketable securities as of April 30, 2017 (in thousands): Amortized Unrealized Unrealized Estimated Cash equivalents: (1) Money market funds $ 18,574 $ — $ — $ 18,574 Commercial paper 8,989 — — 8,989 Marketable securities: U.S. agency obligations 3,194 — — 3,194 Asset-backed securities 24,730 2 (12 ) 24,720 Corporate notes and obligations 108,816 16 (109 ) 108,723 Commercial paper 25,417 4 (1 ) 25,420 Municipal securities 16,115 1 (6 ) 16,110 Certificates of deposit 25,150 11 (2 ) 25,159 U.S. treasury securities 4,993 — — 4,993 Total cash equivalents and marketable $ 235,978 $ 34 $ (130 ) $ 235,882 ___________ (1) Included in “cash and cash equivalents” in the accompanying consolidated balance sheet as of April 30, 2017 . The following are the fair values of our cash equivalents and marketable securities as of January 31, 2017 (in thousands): Amortized Unrealized Unrealized Estimated Cash equivalents: (1) Money market funds $ 49,390 $ — $ — $ 49,390 U.S. agency obligations 3,249 — — 3,249 Corporate notes and obligations 2,050 — — 2,050 Commercial paper 3,998 — — 3,998 Marketable securities: Asset-backed securities 39,281 — (17 ) 39,264 Corporate notes and obligations 105,698 5 (116 ) 105,587 Municipal securities 16,128 — (23 ) 16,105 Certificate of deposit 15,500 20 — 15,520 U.S. treasury securities 5,004 — — 5,004 Total cash equivalents and marketable $ 240,298 $ 25 $ (156 ) $ 240,167 Maturities of our noncurrent marketable securities generally range from 1 to 4 years at both April 30, 2017 and January 31, 2017 . No marketable securities held as of April 30, 2017 or January 31, 2017 had been in a continuous unrealized loss position for more than twelve months. The unrealized loss for each of these fixed rate marketable securities ranged from less than $1,000 to $20,000 as of April 30, 2017 and less than $1,000 to $26,000 as of January 31, 2017 . We do not believe any of the unrealized losses represent an other‑than‑temporary impairment based on our evaluation of available evidence as of April 30, 2017 and January 31, 2017 . We expect to receive the full principal and interest on all of these marketable securities and have the ability and intent to hold these investments until a recovery of fair value. Realized gains and realized losses on our cash equivalents and marketable securities are included in other income, net on the consolidated statement of operations and were not material for the three months ended April 30, 2017 and 2016 . Reclassification adjustments out of accumulated other comprehensive loss into net loss were immaterial for the three months ended April 30, 2017 and 2016 . |
Fair Value Measurement
Fair Value Measurement | 3 Months Ended |
Apr. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Fair Value Measurement Our financial assets and liabilities consist principally of cash and cash equivalents, marketable securities, restricted cash, accounts receivable, and accounts payable. We measure and record certain financial assets and liabilities at fair value on a recurring basis. The estimated fair value of accounts receivable and accounts payable approximates their carrying value due to their short‑term nature. Cash equivalents, marketable securities and restricted cash are recorded at estimated fair value. All of our cash equivalents and marketable securities are classified within Level 1 or Level 2 because the cash equivalents and marketable securities are valued using quoted market prices or alternative pricing sources and models utilizing observable market inputs. We follow a three‑level valuation hierarchy for disclosure of fair value measurements as follows: Level 1 Inputs are unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. Level 3 Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. The following table represents our financial assets and liabilities according to the fair value hierarchy, measured at fair value as of April 30, 2017 (in thousands): Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 18,574 $ — $ — $ 18,574 Commercial paper — 8,989 — 8,989 Marketable securities: U.S. agency obligations — 3,194 — 3,194 Asset-backed securities — 24,720 — 24,720 Corporate notes and obligations — 108,723 — 108,723 Commercial paper — 25,420 — 25,420 Municipal securities — 16,110 — 16,110 Certificates of deposit 25,159 25,159 U.S. treasury securities — 4,993 — 4,993 Restricted cash: Money market funds 15,448 — — 15,448 Total financial assets $ 34,022 $ 217,308 $ — $ 251,330 The following table represents our financial assets and liabilities according to the fair value hierarchy, measured at fair value as of January 31, 2017 (in thousands): Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 49,390 $ — $ — $ 49,390 U.S. agency obligations — 3,249 — 3,249 Corporate notes and obligations — 2,050 — 2,050 Commercial paper — 3,998 — 3,998 Marketable securities: Asset-backed securities — 39,264 — 39,264 Corporate notes and obligations — 105,587 — 105,587 Municipal securities — 16,105 — 16,105 Certificate of deposit — 15,520 — 15,520 U.S. treasury securities — 5,004 — 5,004 Restricted cash: Money market funds 15,446 — — 15,446 Total financial assets $ 64,836 $ 190,777 $ — $ 255,613 We value our Level 1 assets using quoted prices in active markets for identical instruments. We value our Level 2 assets with the help of a third‑party pricing service using quoted market prices for similar instruments, nonbinding market prices that are corroborated by observable market data, or pricing models such as discounted cash flow techniques. We use such pricing data as the primary input, to which we have not made any material adjustments during the periods presented, to make our determination and assessments as to the ultimate valuation of these assets. There were no transfers into or out of Level 1, Level 2 or Level 3 for the three months ended April 30, 2017 and 2016 . |
Balance Sheet Components
Balance Sheet Components | 3 Months Ended |
Apr. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Balance Sheet Components | Balance Sheet Components Property and Equipment, Net The cost and accumulated depreciation and amortization of property and equipment are as follows (in thousands): As of April 30, 2017 January 31, 2017 Computer equipment and software $ 17,996 $ 17,981 Office furniture and equipment 4,406 4,350 Leasehold improvements 8,398 8,468 Construction in progress 209 — Property and equipment, gross 31,009 30,799 Less: accumulated depreciation and amortization (20,392 ) (17,695 ) Property and equipment, net $ 10,617 $ 13,104 Depreciation expense was $2.7 million and $1.5 million for the three months ended April 30, 2017 and 2016 , respectively. Intangible Assets Intangible assets consisted of the following as of April 30, 2017 (dollars in thousands): Gross Fair Accumulated Net Book Weighted Average Developed technology $ 10,155 $ (5,055 ) $ 5,100 2.7 Customer relationships and other acquired intangible assets 6,125 (5,118 ) 1,007 0.6 Total $ 16,280 $ (10,173 ) $ 6,107 2.4 Intangible assets consisted of the following as of January 31, 2017 (dollars in thousands): Gross Fair Accumulated Net Book Weighted Average Developed technology $ 10,155 $ (4,548 ) $ 5,607 2.9 Customer relationships and other acquired intangible assets 6,125 (4,681 ) 1,444 0.8 Total $ 16,280 $ (9,229 ) $ 7,051 2.5 Amortization expense for intangible assets was $0.9 million for the three months ended April 30, 2017 and 2016 , respectively. The expected future amortization expense of these intangible assets as of April 30, 2017 is as follows (in thousands, by fiscal year): Remaining nine months of fiscal 2018 $ 2,531 2019 2,031 2020 1,140 2021 347 2022 58 Total intangible assets, net $ 6,107 Accrued Compensation Accrued compensation consists of the following (in thousands): As of April 30, 2017 January 31, 2017 Accrued salaries and benefits $ 2,746 $ 2,330 Accrued bonuses 5,879 15,338 Accrued commissions 5,929 11,856 Accrued compensation-related taxes and other 6,155 3,852 Total accrued compensation $ 20,709 $ 33,376 Other Accrued Liabilities Other accrued liabilities consists of the following (in thousands): As of April 30, 2017 January 31, 2017 Accrued taxes $ 1,367 $ 1,585 Deferred real estate costs 86 47 Accrued professional costs 2,422 2,147 Customer deposits 172 301 Deferred sublease income 1,266 861 Accrued self-insurance costs 858 746 Other 6,617 4,231 Total other accrued liabilities $ 12,788 $ 9,918 Other includes amounts owed to third‑party vendors that provide marketing, corporate event planning and cloud‑computing services. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Letters of Credit As of both April 30, 2017 and January 31, 2017 , we had a total of $16.8 million , respectively, in letters of credit outstanding in favor of certain landlords for office space. These letters of credit renew annually and expire at various dates through 2027. Operating Leases We lease facilities space under non‑cancelable operating leases with various expiration dates. Future minimum lease payments and sublease proceeds under non-cancelable operating leases at April 30, 2017 are as follows (in thousands, by fiscal year): Minimum Lease Payments Sublease Rental Proceeds Net Minimum Lease Payments Remaining nine months of fiscal 2018 $ 9,472 (5,361 ) 4,111 2019 28,319 (13,295 ) 15,024 2020 28,673 (13,693 ) 14,980 2021 28,671 (14,101 ) 14,570 2022 25,705 (10,861 ) 14,844 2023 and thereafter 142,966 (4,278 ) 138,688 Total $ 263,806 $ (61,589 ) $ 202,217 On February 8, 2017, we entered into a new sublease agreement to sublet office space in Palo Alto, California. The sublease has a 45 month term commencing in the third quarter of fiscal 2018. Rental proceeds committed under this sublease are reflected above in the amounts of $1.6 million in fiscal 2018, $4.0 million in fiscal 2019, $4.1 million in fiscal 2020, $4.3 million in fiscal 2021 and $0.7 million in fiscal 2022. Rental expense related to our non‑cancelable operating leases was approximately $2.4 million and $1.9 million for the three months ended April 30, 2017 and 2016 , respectively. Deferred rent We account for operating leases containing predetermined fixed increases of the base rental rate during the lease term on a straight‑line basis over the lease term. We recorded the difference between amounts charged to operations and amounts payable under our operating leases as deferred rent in the consolidated balance sheets. Indemnification From time to time, we enter into certain types of contracts that contingently require us to indemnify various parties against claims from third parties. These contracts primarily relate to (i) certain real estate leases under which we may be required to indemnify property owners for environmental and other liabilities and other claims arising from our use of the applicable premises, (ii) our bylaws, under which we must indemnify directors and executive officers, and may indemnify other officers and employees, for liabilities arising out of their relationship, (iii) contracts under which we must indemnify directors and certain officers for liabilities arising out of their relationship, (iv) contracts under which we may be required to indemnify customers or partners against certain claims, including claims from third parties asserting, among other things, infringement of their intellectual property rights, and (v) procurement, consulting, or license agreements under which we may be required to indemnify vendors, consultants or licensors for certain claims, including claims that may be brought against them arising from our acts or omissions with respect to the supplied products, technology or services. From time to time, we may receive indemnification claims under these contracts in the normal course of business. In addition, under these contracts we may have to modify the accused infringing intellectual property and/or refund amounts received. In the event that one or more of these matters were to result in a claim against us, an adverse outcome, including a judgment or settlement, may cause a material adverse effect on our future business, operating results or financial condition. It is not possible to determine the maximum potential amount under these contracts due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. We maintain director and officer insurance, which may cover certain liabilities arising from our obligation to indemnify our directors. To date, we have not incurred any material costs, and have not accrued any liabilities in the consolidated financial statements as a result of these provisions. Contingencies In the ordinary course of business, we are or may be involved in a variety of litigation matters, suits, investigations, and proceedings, including actions with respect to intellectual property claims, government investigations, labor and employment claims, breach of contract claims, tax, and other matters. Regardless of the outcome, these litigation matters can have an adverse impact on us because of defense costs, diversion of management resources, harm to reputation, and other factors. In addition, it is possible that an unfavorable resolution of one or more such litigation matters could, in the future, materially and adversely affect our financial position, results of operations, and cash flows in a particular period or subject us to an injunction that could seriously harm its business. We record a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. With respect to our outstanding legal matters management believes that the amount or estimable range of possible loss will not, either individually or in the aggregate, have a material adverse effect on its business, consolidated financial position, results of operations, or cash flows. However, the outcome of litigation is inherently uncertain. Therefore, if one or more of these legal matters were resolved against us for amounts in excess of management’s expectations, our results of operations and financial condition including in a particular reporting period, could be materially adversely affected. |
Redeemable Convertible Preferre
Redeemable Convertible Preferred Stock | 3 Months Ended |
Apr. 30, 2017 | |
Temporary Equity Disclosure [Abstract] | |
Redeemable Convertible Preferred Stock | Redeemable Convertible Preferred Stock The authorized, issued, and outstanding shares of redeemable convertible preferred stock as of April 30, 2017 and January 31, 2017 are as follows (in thousands, except shares): Shares Authorized, Issued Aggregate Liquidation Net Carrying Series A 12,936,594 $ 5,000 $ 4,909 Series B 12,314,006 6,000 5,945 Series C 8,951,868 24,000 23,899 Series D 8,965,178 40,000 39,902 Series E 8,756,093 65,000 64,891 Series F 10,989,008 160,000 155,039 Series F-1 11,994,668 370,875 363,102 74,907,415 $ 670,875 $ 657,687 Immediately prior to the closing of the IPO on May 3, 2017, all shares of our outstanding redeemable convertible preferred stock automatically converted into an aggregate of 74.9 million shares of common stock. |
Common Stock
Common Stock | 3 Months Ended |
Apr. 30, 2017 | |
Equity [Abstract] | |
Common Stock | Common Stock In March 2017 and April 2017, our board of directors and stockholders, respectively, approved an increase to our authorized common stock. At April 30, 2017 t here were 270,000,000 shares of common stock, par value $0.00005 , authorized and 38,821,822 shares of common stock issue and outstanding. The number of shares of common stock issued and outstanding at April 30, 2017 excludes 4,584,312 shares of common stock subject to RSUs that vested in the first quarter of fiscal 2018 upon the effective date of our IPO and will be issued on a date to be determined by our board of directors that will be on or after the second trading day following the release of earnings by us for the second quarter of fiscal 2018. At January 31, 2017 t here were 160,000,000 shares of common stock, par value $0.00005 , authorized and 38,156,688 shares of common stock issue and outstanding. |
Stock Option Plans
Stock Option Plans | 3 Months Ended |
Apr. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Option Plans | Stock Option Plans We maintain two share-based compensation plans: the 2017 Equity Incentive Plan, or 2017 Plan, and the 2008 Equity Incentive Plan, or 2008 Plan and collectively with the 2017 Plan, the Stock Plans. In March 2017, our board of directors adopted our 2017 Plan, which our stockholders approved in March 2017. The 2017 Plan became effective on April 27, 2017, the effective date of our IPO, and will serve as the successor to our 2008 Equity Incentive Plan. We do not expect to grant any additional awards under the 2008 Plan as of the effective date of the 2017 Plan. Outstanding awards under the 2008 Plan continue to be subject to the terms and conditions of the 2008 Plan. In March 2017, we increased the number of shares of common stock reserved for grant under the 2008 Plan by 2,000,000 shares. In March 2017 we adopted the 2017 Plan with a reserve of 30,000,000 shares of our common stock for issuance under our 2017 Plan, plus an additional number of shares of common stock equal to any shares reserved but not issued or subject to outstanding awards under our 2008 Plan on the effective date of our 2017 Plan, plus, on and after the effective date of our 2017 Equity Incentive Plan, (i) shares that are subject to outstanding awards under the 2008 Equity Incentive Plan which cease to be subject to such awards, (ii) shares issued under the 2008 Equity Incentive Plan which are forfeited or repurchased at their original issue price, and (iii) shares subject to awards under the 2008 Equity Incentive Plan that are used to pay the exercise price of an option or withheld to satisfy the tax withholding obligations related to any award. The number of shares reserved for issuance under our 2017 Equity Incentive Plan will increase automatically on the first day of February of each calendar year during the term of the plan by a number of shares of common stock equal to the lesser of (i) 5% of the total outstanding shares our common stock as of the immediately preceding January 31st or (ii) a number of shares determined by our board of directors. As of April 30, 2017 and January 31, 2017 , 98,577,136 and 66,577,136 , respectively, shares of common stock were reserved under the Stock Plans for the grant of incentive and nonqualified stock options, restricted stock purchases, awards and units and stock appreciation rights to employees, directors, consultants and other service providers. The Stock Plans provide for stock options to be granted at an exercise price not less than 100% of the fair market value at the grant date as determined by the board of directors, unless, with respect to incentive stock options, the optionee is a 10% stockholder, in which case the option price will not be less than 110% of such fair market value. Options granted generally have a maximum term of ten years from the grant date, are exercisable upon vesting unless otherwise designated for early exercise by the board of directors at the time of grant, and generally vest over a 4 year period, with 25% vesting after 1 year and then ratably on a monthly basis for the remaining 3 years. The following tables summarize stock option activity and related information under the Stock Plans: Options Weighted- Weighted-Average Remaining Aggregate (in thousands) Balance — January 31, 2017 23,239,679 $ 4.67 6.0 $ 319,016 Granted 9,000 17.85 — — Exercised (627,769 ) 2.36 — — Canceled (88,697 ) 10.44 — — Balance — April 30, 2017 22,532,213 $ 4.72 5.8 $ 302,525 The total intrinsic value of options exercised during the three months ended April 30, 2017 and 2016 was $7.5 million and $5.9 million , respectively. The intrinsic value is the difference between the current fair market value of the stock for accounting purposes at the time of exercise and the exercise price of the stock option. As we have accumulated net operating losses, no future tax benefit related to option exercises has been recognized. The weighted‑average grant‑date value for purposes of recognizing stock‑based compensation expense of employee options granted during the three months ended April 30, 2017 and 2016 was $5.63 and $11.30 per share for, re spectively. The unamortized stock‑based compensation expense for options of $22.7 million at April 30, 2017 will be recognized over the average remaining vesting period of 1.5 years. We issue RSUs to employees and directors under the Stock Plans. For new employee grants, the RSUs generally meet the service‑based condition over a four year period, with 25% meeting after one year and then ratably on a quarterly basis for the remaining three years. For continuing employee grants, the RSUs generally meet the service‑based condition pro‑rata quarterly over the four ‑year period (without a one ‑year cliff). The employee RSUs issued prior to our IPO under the 2008 Plan have two vesting conditions: (1) a service‑based condition and (2) a liquidity event‑related performance condition which is considered a performance‑based condition. On March 8, 2017, our board of directors modified the terms of the majority of our RSUs. Prior to the modification, if the the liquidity event‑related performance condition was an IPO, employees were required to continue to provide service six months following the effective date of an IPO. The modification removed the requirement, for the majority of RSUs, that the RSU recipient must continue to provide service for six months following the effective date of an IPO in order to vest in the award, with such shares to be issued on a date to be determined by the board of directors that will be after the second full trading day following the release of earnings by us for the second quarter of fiscal 2018. All other significant terms of the RSUs remained unchanged. The modification established a new measurement date for these modified RSUs. The liquidity event‑related performance condition was achieved for the majority of our RSUs and became probable of being achieved for the remaining RSUs on April 27, 2017, the effective date of our IPO. We recognized stock‑based compensation expense using the accelerated attribution method with a cumulative catch‑up of stock‑based compensation expense in the amount of $181.5 million attributable to service prior to such effective date. Restricted stock activity for our Stock Plans is as follows: Restricted Stock Units Outstanding Number of Weighted- Balance —January 31, 2017 21,374,022 $ 22.36 Granted 2,155,220 14.00 Canceled (279,782 ) 16.61 Vested and converted to shares (37,365 ) 21.99 Balance —April 30, 2017 23,212,095 $ 14.93 The unamortized stock‑based compensation expense for RSUs of $164.6 million at April 30, 2017 will be recognized over the average remaining vesting period of 1.5 years. The number of RSUs outstanding at April 30, 2017 in the table above includes 4,584,312 shares of common stock subject to RSUs that vested in the first quarter of fiscal 2018 upon the effective date of our IPO and will be issued on a date to be determined by our board of directors that will be on or after the second trading day following the release of earnings by us for the second quarter of fiscal 2018. 2017 Employee Stock Purchase Plan In March 2017, we adopted our 2017 Employee Stock Purchase Plan, or ESPP. The ESPP became effective on April 27, 2017, the effective date of our IPO. Our ESPP is intended to qualify as an employee stock purchase plan under Section 423 of the Code. Purchases will be accomplished through participation in discrete offering periods. The first offering period and purchase period began on April 27, 2017 and will end on December 20, 2017 (or such other date determined by our board of directors or our compensation committee). Each subsequent offering period will be for six months (commencing each June 21 and December 21) and will consist of one six ‑month purchase period, unless otherwise determined by our board of directors or our compensation committee. Under our ESPP, eligible employees will be able to acquire shares of our common stock by accumulating funds through payroll deductions. Our employees generally are eligible to participate in our 2017 Employee Stock Purchase Plan if they are employed by us for at least 20 hours per week and more than five months in a calendar year. Employees who are 5% stockholders, or would become 5% stockholders as a result of their participation in our 2017 Employee Stock Purchase Plan, are ineligible to participate in our 2017 Employee Stock Purchase Plan. We may impose additional restrictions on eligibility. Our eligible employees are able to select a rate of payroll deduction between 1% and 15% of their base cash compensation. The purchase price for shares of our common stock purchased under our ESPP is 85% of the lesser of the fair market value of our common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the applicable offering period. No participant has the right to purchase shares of our common stock in an amount, when aggregated with purchase rights under all our employee stock purchase plans that are also in effect in the same calendar year(s), that has a fair market value of more than $25,000 , determined as of the first day of the applicable purchase period, for each calendar year in which that right is outstanding. In addition, no participant is permitted to purchase more than 2,500 shares during any one purchase period or such lesser amount determined by our compensation committee or our board of directors. Once an employee is enrolled in our 2017 Employee Stock Purchase Plan, participation will be automatic in subsequent offering periods. An employee’s participation automatically ends upon termination of employment for any reason. We initially reserved 3,000,000 shares of our common stock for issuance under our ESPP. The number of shares reserved for issuance under our 2017 ESPP will increase automatically on February 1st of each of the first 10 calendar years following the first offering date by the number of shares equal to the lesser of either 1% of the total outstanding shares of our common stock as of the immediately preceding January 31st (rounded to the nearest whole share) or a number of shares of our common stock. There was no activity as of April 30, 2017 as the first offering period will end on December 20, 2017. |
Income Taxes
Income Taxes | 3 Months Ended |
Apr. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income taxes Our quarterly income taxes reflect an estimate of our corresponding year’s annual effective tax rate and include, when applicable, adjustments for discrete items. For the three months ended April 30, 2017 , our tax provision was $0.7 million , compared to $0.5 million for the same period a year ago. The tax provision for the three months ended April 30, 2017 primarily relates to income taxes of our non-U.S. operations as our U.S. operations were in a loss position and we maintain a full valuation allowance against our U.S. deferred tax assets. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Apr. 30, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Intel Corporation We have been engaged in commercial transactions with Intel Corporation, a holder of our common stock and preferred stock, representing approximately 22% of outstanding shares as of April 30, 2017 , with the right to designate a person that the board of directors must nominate for election, or nominate for re-election, to our board of directors, including a multi‑year subscription and services agreement, and a collaboration and optimization agreement. The aggregate revenue we recognized from this customer was $2.3 million and $1.6 million for the three months ended April 30, 2017 and 2016 , respectively. There was $3.0 million and $2.3 million in accounts receivable due from this customer as of April 30, 2017 and January 31, 2017 , respectively. There was $2.8 million and $2.1 million in deferred revenue as of April 30, 2017 and January 31, 2017 , respectively. Cloudera Foundation In January 2017, the Cloudera Foundation, an independent non‑profit organization, was created to provide our products, skills and people, to important social problems around the world. We donated 1,175,063 shares of common stock to the Cloudera Foundation during the fourth quarter of fiscal 2017 . In conjunction with the IPO, we donated $2.4 million , or 1% of the net proceeds, to fund the Cloudera Foundation activities. We do not control the Cloudera Foundation’s activities, and accordingly, we do not consolidate the financial statements of the Cloudera Foundation. Other related parties Certain members of our board of directors currently serve on the board of directors or as an executive of two companies that are customers of ours. The aggregate revenue we recognized from these customers was $1.6 million and $0.9 million for the three months ended April 30, 2017 and 2016 , respectively. There was $1.2 million and $4.5 million in accounts receivable due from these customers as of April 30, 2017 and January 31, 2017 , respectively. There was $5.2 million and $5.5 million in deferred revenue as of April 30, 2017 and January 31, 2017 , respectively. |
Segment Information
Segment Information | 3 Months Ended |
Apr. 30, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information The results of the reportable segments are derived directly from our management reporting system and are based on our methods of internal reporting which are not necessarily in conformity with GAAP. Management measures the performance of each segment based on several metrics, including contribution margin, as defined below. Management does not use asset information to assess performance and make decisions regarding allocation of resources. Therefore, depreciation and amortization expense is not allocated among segments. Contribution margin is used, in part, to evaluate the performance of, and allocate resources to, each of the segments. Segment contribution margin includes segment revenue less the related cost of sales excluding certain operating expenses that are not allocated to segments because they are separately managed at the consolidated corporate level. These unallocated costs include stock‑based compensation expense, amortization of acquired intangible assets, direct sales and marketing costs, research and development costs, corporate general and administrative costs, such as legal and accounting, interest income, interest expense, and other income (expense). Financial information for each reportable segment was as follows (in thousands): Three Months Ended April 30, 2017 2016 Revenue: Subscription $ 64,671 $ 40,672 Services 14,925 15,813 Total revenue $ 79,596 $ 56,485 Three Months Ended April 30, 2017 2016 Contribution margin: Subscription $ 54,413 $ 32,110 Services 1,622 4,603 Total segment contribution margin $ 56,035 $ 36,713 The reconciliation of segment financial information to our loss from operations is as follows (in thousands): Three Months Ended April 30, 2017 2016 Segment contribution margin $ 56,035 $ 36,713 Amortization of acquired intangible assets (944 ) (885 ) Stock-based compensation expense (191,082 ) (5,663 ) Corporate costs, such as research and development, corporate general and administrative and other (86,349 ) (73,681 ) Loss from operations $ (222,340 ) $ (43,516 ) Sales outside of the United States represented approximately 26% , and 25 % of our total revenue for the three months ended April 30, 2017 and 2016 , respectively. All revenues from external customers are attributed to individual countries on an end‑customer basis, based on domicile of the purchasing entity, if known, or the location of the customer’s headquarters if the specific purchasing entity within the customer is unknown. As of both April 30, 2017 and January 31, 2017 , assets located outside the United States were 3% of total assets, respectively. |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 3 Months Ended |
Apr. 30, 2017 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share Attributable to Common Stockholders | Net Loss Per Share Attributable to Common Stockholders The following table sets forth the calculation of basic and diluted net loss per share attributable to common stockholders during the periods presented (in thousands, except share and per share data): Three Months Ended April 30, 2017 2016 Numerator: Net loss $ (222,319 ) $ (43,113 ) Denominator: Weighted-average shares used in computing net loss per share, basic and diluted 38,487,424 35,920,537 Net loss per share, basic and diluted $ (5.78 ) $ (1.20 ) The following outstanding shares of common stock equivalents were excluded from the computation of the diluted net loss per share attributable to common stockholders for the periods presented because their effect would have been anti‑dilutive: As of April 30, 2017 2016 Redeemable convertible preferred stock on an as-if converted basis 74,907,415 74,907,415 Stock options to purchase common stock 22,532,213 24,385,279 Restricted stock units 18,582,856 13,484,336 Total 116,022,484 112,777,030 |
Subsequent Events
Subsequent Events | 3 Months Ended |
Apr. 30, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events On May 3, 2017, we completed our IPO in which we issued and sold 17.25 million shares of common stock, inclusive of the over-allotment, at a public offering price of $15.00 per share. We received net proceeds of $233.0 million after deducting underwriting discounts and commissions of $18.1 million , our cash donation to the Cloudera Foundation of $2.4 million and other estimated issuance costs of $5.3 million , of which $3.7 million were paid as of April 30, 2017 and therefore are not included in the pro forma adjustment to cash below. Immediately prior to the closing of the IPO, all shares of our redeemable convertible preferred stock automatically converted into an aggregate of 74.9 million shares of common stock. The pro forma balance sheet data in the table below reflects the sale of common stock, including the underwriter’s exercise of their option to purchase additional shares of our common stock, after deducting the underwriting discounts and commissions, our donation to the Cloudera Foundation and our estimated offering expenses. In addition, the pro forma balance sheet reflects the automatic conversion of all of our outstanding shares of redeemable convertible preferred stock into shares of our common stock, which occurred immediately prior to the completion of our IPO on May 3, 2017. Historical as of Pro Forma Pro forma as of April 30, 2017 Adjustments April 30, 2017 (in thousands) ASSETS Total current assets $ 288,348 $ 236,667 $ 525,015 Total long-term assets 108,778 (4,893 ) 103,885 TOTAL ASSETS 397,126 231,774 628,900 LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) TOTAL LIABILITIES 252,907 (1,190 ) 251,717 Redeemable convertible preferred stock 657,687 (657,687 ) — STOCKHOLDERS' EQUITY (DEFICIT) Common stock 2 4 6 Additional paid-in capital 385,359 893,000 1,278,359 Accumulated other comprehensive loss (513 ) — (513 ) Accumulated deficit (898,316 ) (2,353 ) (900,669 ) TOTAL STOCKHOLDERS' EQUITY (DEFICIT) (513,468 ) 890,651 377,183 TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 397,126 $ 231,774 $ 628,900 |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The condensed consolidated financial statements include the results of Cloudera, Inc. and its wholly owned subsidiaries which are located in various countries, including the United States, Australia, China, Germany, Hungary and the United Kingdom. All intercompany balances and transactions have been eliminated upon consolidation. The condensed consolidated balance sheet as of January 31, 2017 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by GAAP for complete financial statements. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of our management, the information contained herein reflects all adjustments necessary for a fair presentation of our results of operations, financial position and cash flows. All such adjustments are of a normal, recurring nature. The results of operations for the three months ended April 30, 2017 are not necessarily indicative of results to be expected for the full year ending January 31, 2018 or for any other interim period or for any other future year. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended January 31, 2017 , included in our prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the SEC on April 28, 2017. |
Fiscal Year | Our fiscal year ends on January 31. References to fiscal 2018 , for example, refers to the fiscal year ended January 31, 2018 . |
Use of Estimates | The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant items subject to such estimates include revenue recognition, the useful lives of property and equipment and intangible assets, allowance for doubtful accounts, stock‑based compensation expense, annual bonus attainment, self‑insurance costs incurred, the fair value of tangible and intangible assets acquired and liabilities assumed resulting from business combinations, the fair value of common stock, the assessment of elements in a multi‑element arrangement and the valuation assigned to each element, and contingencies. These estimates and assumptions are based on management’s best estimates and judgment. Management regularly evaluates its estimates and assumptions using historical experience and other factors; however, actual results could differ significantly from these estimates. |
Segments | We operate as two operating segments – subscription and services. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker, who is our chief executive officer, in deciding how to allocate resources and assessing performance. |
Cash, Cash Equivalents and Restricted Cash | Cash equivalents consist of short term, highly liquid investments with original maturities of three months or less from the date of purchase. Restricted cash represents cash on deposit with financial institutions in support of letters of credit outstanding in favor of certain landlords for office space. Cash as reported on the condensed consolidated statements of cash flows includes the aggregate amounts of cash and cash equivalents and the restricted cash as shown on the condensed consolidated balance sheets. |
Concentration of Credit Risk and Significant Customers | Financial instruments that subject us to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, restricted cash, and accounts receivable. Our cash is deposited with high credit quality financial institutions. At times such deposits may be in excess of the Federal Depository Insurance Corporation insured limits. We have not experienced any losses on these deposits. |
Deferred Offering Costs | Deferred offering costs, which consist of direct incremental legal, consulting, banking and accounting fees relating to anticipated equity offerings, are capitalized and will be offset against proceeds upon the consummation of our initial public offering (IPO) on May 3, 2017. |
Revenue Recognition | We generate revenue from subscriptions and services. Subscription arrangements are typically one to three years in length but may be up to seven years in limited cases. Arrangements with our customers typically do not include general rights of return. Incremental direct costs incurred related to the acquisition or origination of a customer contract are expensed as incurred. Revenue recognition commences when all of the following criteria are met: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the fee is fixed or determinable; and (iv) collection is probable. Subscription revenue Subscription revenue relates to term (or time‑based) subscription agreements for both open source and proprietary software. Subscriptions include internet, email and phone support, bug fixes, and the right to receive unspecified software updates and upgrades released when and if available during the subscription term. Revenue for subscription arrangements is recognized ratably over the contractual term of the arrangement beginning on the date access to the subscription is made available to the customer. Services revenue Services revenue relates to professional services for the implementation and use of our subscriptions, training and education services and related reimbursable travel costs. For time and materials and fixed fee arrangements, revenue is recognized as the services are performed or upon acceptance, if applicable. For milestone‑based arrangements, revenue is recognized upon acceptance or subsequent to completion upon the lapse of any acceptance period. Revenue for training and education services is recognized upon delivery, except for On‑Demand Training, which is recognized ratably over the contractual term. Multiple ‑ element arrangements Arrangements with our customers generally include multiple elements such as subscription and services. We allocate revenue to each element of the arrangement based on vendor‑specific objective evidence of each element’s fair value (VSOE) when we can demonstrate sufficient evidence of the fair value. VSOE for elements of an arrangement is based upon the normal pricing and discounting practices for those elements when sold separately on a stand‑alone basis. We have established VSOE for some of our services. If VSOE for one or more undelivered elements does not exist, revenue recognition does not commence until delivery of both the subscription and services have commenced, or when VSOE of the undelivered elements has been established. Once revenue recognition commences, revenue for the arrangement is recognized ratably over the longest service period in the arrangement . Reseller arrangements We recognize subscription revenue for sales through resellers or other indirect sales channels. Subscription revenue from these sales is generally recognized upon sell‑through to an end user customer. Subscription revenue from these sales does not commence until cash is collected where payments to us are believed to be contingent upon payment by the end user to the reseller. Deferred revenue Deferred revenue consists of amounts billed to or collected from customers under a binding agreement provided delivery of the related subscription and services has commenced. |
Stock-Based Compensation | We recognize stock‑based compensation expense for all stock‑based payments. Employee stock‑based compensation cost is estimated at the grant date based on the fair value of the equity for financial reporting purposes and is recognized as expense over the requisite service period. Fair value of our common stock for financial reporting purposes is determined considering numerous objective and subjective factors and requires judgment to determine the fair value of common stock for financial reporting purposes as of the date of each equity grant or modification. These objective and subjective factors include, but are not limited to: • relevant precedent transactions involving our capital stock; • contemporaneous valuations performed by third party specialists; • rights, preferences, and privileges of our redeemable convertible preferred stock relative to those of our common stock; • actual operating and financial performance; • current business conditions and financial projections; • likelihood of achieving a liquidity event, such as an initial public offering or a sale of our business; • the lack of marketability of our common stock, and the illiquidity of stock‑based awards involving securities in a private company; • recent secondary stock sales; • market multiples of comparable publicly‑traded companies; • stage of development; • industry information such as market size and growth; and • U.S. and global capital market and macroeconomic conditions. We have elected to calculate the fair value of options based on the Black‑Scholes option‑pricing model. The Black‑Scholes model requires the use of various assumptions including expected option life and expected stock price volatility. We estimate the expected term for stock options using the simplified method due to the lack of historical exercise activity. The simplified method calculates the expected term as the midpoint between the vesting date and the contractual expiration date of the award. We estimate the options’ volatility using volatilities of a group of public companies in a comparable industry, stage of life cycle, and size. The interest rate is derived from government bonds with a similar term as the options’ expected lives. We have not declared nor do we expect to declare dividends. Therefore, there is no dividend impact on the valuation of options. We are using the straight‑line (single‑option) method for employee expense attribution for stock options. We have granted RSUs to our employees and members of our board of directors under the 2008 Equity Incentive Plan, or the 2008 Plan. The employee RSUs vest upon the satisfaction of both a service‑based condition and a liquidity event‑related performance condition. The service‑based condition for the majority of these awards is generally satisfied pro‑rata over four years . The liquidity event‑related performance condition is satisfied upon the occurrence of a qualifying liquidity event, such as the effective date of an IPO, or six months following the effective date of an IPO. During the quarter ended April 30, 2017, the majority of RSUs were modified such that the liquidity event‑related performance condition is satisfied upon the effective date of an IPO, rather than six months following an IPO. The modification established a new measurement date for these modified RSUs. The liquidity event‑related performance condition is viewed as a performance‑based criterion for which the achievement of such liquidity event is not deemed probable for accounting purposes until the event occurs. The liquidity event‑related performance condition was achieved for the majority of our RSUs and became probable of being achieved for the remaining RSUs on April 27, 2017, the effective date of our IPO. We recognized stock‑based compensation expense using the accelerated attribution method with a cumulative catch‑up of stock‑based compensation expense in the amount of $181.5 million attributable to service prior to such effective date. Shares subject to RSUs in which the liquidity event-related performance condition was satisfied upon the effective date of the IPO will be issued on a date to be determined by the board of directors that will be after the second full trading day following the release of earnings by us for the second quarter of fiscal 2018 to the extent the service‑based condition has been met. Stock‑based compensation expense is also recorded when a holder of an economic interest in Cloudera purchases shares from an employee for an amount in excess of the fair value of the common stock at the time of the purchase. We recognize any excess value transferred in these transactions as stock‑based compensation expense in the consolidated statement of operations. Options and other equity awards granted to non‑employees are accounted for at their estimated fair value using the Black‑Scholes method. These awards are subject to periodic re‑measurement over the period during which services are rendered. Stock‑based compensation expense is recognized over the vesting period on a straight‑line basis. |
Net Loss Per Share Attributable to Common Stockholders | We follow the two‑class method when computing net loss per common share as we issue shares that meet the definition of participating securities. The two‑class method determines net income (loss) per common share for each class of common stock and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two‑class method requires income available to common stockholders for the period to be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. Our redeemable convertible preferred stock contractually entitles the holders of such shares to participate in dividends, but does not contractually require the holders of such shares to participate in our losses. For periods in which we have reported net losses, diluted net loss per common share attributable to common stockholders is the same as basic net loss per common share attributable to common stockholders, because potentially dilutive common shares are not assumed to have been issued if their effect is anti‑dilutive. |
JOBS Act Accounting Election | We are an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. We have elected to retain the ability to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, our financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. |
Recently Adopted Accounting Standards | In March 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016‑09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share‑Based Payment Accounting , or ASU 2016‑09, which simplifies the accounting and reporting of share‑based payment transactions, including adjustments to how excess tax benefits and payments for tax withholdings should be classified and provides the election to eliminate the estimate for forfeitures. For public entities, this standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. For all other entities, this standard is effective for annual reporting periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for any entity in any interim or annual period for which financial statements have not been issued or made available for issuance. We have early adopted this standard in the first quarter of fiscal 2018. As a result of this adoption, we have elected to account for forfeitures as they occur. The adoption of this standard did not have a material impact on our consolidated financial statements. Recently Issued Accounting Standards In May 2014, the FASB issued ASU No. 2014‑09, Revenue from Contracts with Customers (Topic 606) , or ASU 2014‑09, which amended the existing FASB Accounting Standards Codification. ASU 2014‑09 establishes a principle for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services and also provides guidance on the recognition of costs related to obtaining and fulfilling customer contracts. For public entities, this standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. For all other entities, this standard is effective for annual reporting periods beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. Early adoption is permitted, but may not be adopted by us any earlier than February 1, 2017. We are currently in the process of assessing the adoption methodology, which allows ASU 2014‑09 to be applied either retrospectively to each prior period presented or with the cumulative effect recognized as of the date of initial application. Our final determination will depend on a number of factors, such as the significance of the impact of the new standard on our financial results, system readiness, including that of software procured from third‑party providers, and our ability to accumulate and analyze the information necessary to assess the impact on prior period financial statements, as necessary. We are also currently evaluating the impact ASU 2014‑09 will have on our consolidated financial statements. We are in the initial stages of our evaluation of the impact of ASU 2014‑09 on our accounting policies, processes, and system requirements. We have assigned internal resources in addition to engaging third party service providers to assist in the evaluation. While we continue to assess all potential impacts under ASU 2014‑09, there is the potential for significant impacts to the timing of our revenue recognition and contract acquisition costs, such as sales commissions. Accounting for certain sales commissions under ASU 2014‑09 is different than our current accounting policy which is to expense sales commissions as incurred whereas such costs will be deferred and amortized under ASU 2014‑09. Additionally, we preliminarily believe that the amortization period for such deferred commission costs will be longer than the contract term, as ASU 2014‑09 requires entities to determine whether the costs relate to specific anticipated contracts. While we continue to assess the potential impacts of ASU 2014‑09, including the areas described above, and anticipate ASU 2014‑09 could have a material impact on our consolidated financial statements, we do not know or cannot reasonably estimate the quantitative impact on our financial statements at this time. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting , or ASU 2017-09, which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under ASU 2017-09, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. This standard is effective for all entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements. |
Deferred Rent | We account for operating leases containing predetermined fixed increases of the base rental rate during the lease term on a straight‑line basis over the lease term. We recorded the difference between amounts charged to operations and amounts payable under our operating leases as deferred rent in the consolidated balance sheets. |
Indemnification | From time to time, we enter into certain types of contracts that contingently require us to indemnify various parties against claims from third parties. These contracts primarily relate to (i) certain real estate leases under which we may be required to indemnify property owners for environmental and other liabilities and other claims arising from our use of the applicable premises, (ii) our bylaws, under which we must indemnify directors and executive officers, and may indemnify other officers and employees, for liabilities arising out of their relationship, (iii) contracts under which we must indemnify directors and certain officers for liabilities arising out of their relationship, (iv) contracts under which we may be required to indemnify customers or partners against certain claims, including claims from third parties asserting, among other things, infringement of their intellectual property rights, and (v) procurement, consulting, or license agreements under which we may be required to indemnify vendors, consultants or licensors for certain claims, including claims that may be brought against them arising from our acts or omissions with respect to the supplied products, technology or services. From time to time, we may receive indemnification claims under these contracts in the normal course of business. In addition, under these contracts we may have to modify the accused infringing intellectual property and/or refund amounts received. In the event that one or more of these matters were to result in a claim against us, an adverse outcome, including a judgment or settlement, may cause a material adverse effect on our future business, operating results or financial condition. It is not possible to determine the maximum potential amount under these contracts due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. We maintain director and officer insurance, which may cover certain liabilities arising from our obligation to indemnify our directors. To date, we have not incurred any material costs, and have not accrued any liabilities in the consolidated financial statements as a result of these provisions. |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Accounting Policies [Abstract] | |
Schedule of Fair Value of Cash and Cash Equivalents | Cash as reported on the condensed consolidated statements of cash flows consists of the following (in thousands): As of April 30, 2017 2016 Cash and cash equivalents $ 51,572 $ 49,691 Restricted cash 15,448 29 Cash, cash equivalents and restricted cash $ 67,020 $ 49,720 The following are the fair values of our cash equivalents and marketable securities as of April 30, 2017 (in thousands): Amortized Unrealized Unrealized Estimated Cash equivalents: (1) Money market funds $ 18,574 $ — $ — $ 18,574 Commercial paper 8,989 — — 8,989 Marketable securities: U.S. agency obligations 3,194 — — 3,194 Asset-backed securities 24,730 2 (12 ) 24,720 Corporate notes and obligations 108,816 16 (109 ) 108,723 Commercial paper 25,417 4 (1 ) 25,420 Municipal securities 16,115 1 (6 ) 16,110 Certificates of deposit 25,150 11 (2 ) 25,159 U.S. treasury securities 4,993 — — 4,993 Total cash equivalents and marketable $ 235,978 $ 34 $ (130 ) $ 235,882 ___________ (1) Included in “cash and cash equivalents” in the accompanying consolidated balance sheet as of April 30, 2017 . The following are the fair values of our cash equivalents and marketable securities as of January 31, 2017 (in thousands): Amortized Unrealized Unrealized Estimated Cash equivalents: (1) Money market funds $ 49,390 $ — $ — $ 49,390 U.S. agency obligations 3,249 — — 3,249 Corporate notes and obligations 2,050 — — 2,050 Commercial paper 3,998 — — 3,998 Marketable securities: Asset-backed securities 39,281 — (17 ) 39,264 Corporate notes and obligations 105,698 5 (116 ) 105,587 Municipal securities 16,128 — (23 ) 16,105 Certificate of deposit 15,500 20 — 15,520 U.S. treasury securities 5,004 — — 5,004 Total cash equivalents and marketable $ 240,298 $ 25 $ (156 ) $ 240,167 |
Cash as Reported on the Condensed Consolidated Statements of Cash Flows | Cash as reported on the condensed consolidated statements of cash flows consists of the following (in thousands): As of April 30, 2017 2016 Cash and cash equivalents $ 51,572 $ 49,691 Restricted cash 15,448 29 Cash, cash equivalents and restricted cash $ 67,020 $ 49,720 |
Cash Equivalents and Marketab23
Cash Equivalents and Marketable Securities (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Schedule of Fair Value of Cash and Cash Equivalents | Cash as reported on the condensed consolidated statements of cash flows consists of the following (in thousands): As of April 30, 2017 2016 Cash and cash equivalents $ 51,572 $ 49,691 Restricted cash 15,448 29 Cash, cash equivalents and restricted cash $ 67,020 $ 49,720 The following are the fair values of our cash equivalents and marketable securities as of April 30, 2017 (in thousands): Amortized Unrealized Unrealized Estimated Cash equivalents: (1) Money market funds $ 18,574 $ — $ — $ 18,574 Commercial paper 8,989 — — 8,989 Marketable securities: U.S. agency obligations 3,194 — — 3,194 Asset-backed securities 24,730 2 (12 ) 24,720 Corporate notes and obligations 108,816 16 (109 ) 108,723 Commercial paper 25,417 4 (1 ) 25,420 Municipal securities 16,115 1 (6 ) 16,110 Certificates of deposit 25,150 11 (2 ) 25,159 U.S. treasury securities 4,993 — — 4,993 Total cash equivalents and marketable $ 235,978 $ 34 $ (130 ) $ 235,882 ___________ (1) Included in “cash and cash equivalents” in the accompanying consolidated balance sheet as of April 30, 2017 . The following are the fair values of our cash equivalents and marketable securities as of January 31, 2017 (in thousands): Amortized Unrealized Unrealized Estimated Cash equivalents: (1) Money market funds $ 49,390 $ — $ — $ 49,390 U.S. agency obligations 3,249 — — 3,249 Corporate notes and obligations 2,050 — — 2,050 Commercial paper 3,998 — — 3,998 Marketable securities: Asset-backed securities 39,281 — (17 ) 39,264 Corporate notes and obligations 105,698 5 (116 ) 105,587 Municipal securities 16,128 — (23 ) 16,105 Certificate of deposit 15,500 20 — 15,520 U.S. treasury securities 5,004 — — 5,004 Total cash equivalents and marketable $ 240,298 $ 25 $ (156 ) $ 240,167 |
Schedule of Fair Value of Cash and Cash Equivalents and Marketable Securities | The following are the fair values of our cash equivalents and marketable securities as of April 30, 2017 (in thousands): Amortized Unrealized Unrealized Estimated Cash equivalents: (1) Money market funds $ 18,574 $ — $ — $ 18,574 Commercial paper 8,989 — — 8,989 Marketable securities: U.S. agency obligations 3,194 — — 3,194 Asset-backed securities 24,730 2 (12 ) 24,720 Corporate notes and obligations 108,816 16 (109 ) 108,723 Commercial paper 25,417 4 (1 ) 25,420 Municipal securities 16,115 1 (6 ) 16,110 Certificates of deposit 25,150 11 (2 ) 25,159 U.S. treasury securities 4,993 — — 4,993 Total cash equivalents and marketable $ 235,978 $ 34 $ (130 ) $ 235,882 ___________ (1) Included in “cash and cash equivalents” in the accompanying consolidated balance sheet as of April 30, 2017 . The following are the fair values of our cash equivalents and marketable securities as of January 31, 2017 (in thousands): Amortized Unrealized Unrealized Estimated Cash equivalents: (1) Money market funds $ 49,390 $ — $ — $ 49,390 U.S. agency obligations 3,249 — — 3,249 Corporate notes and obligations 2,050 — — 2,050 Commercial paper 3,998 — — 3,998 Marketable securities: Asset-backed securities 39,281 — (17 ) 39,264 Corporate notes and obligations 105,698 5 (116 ) 105,587 Municipal securities 16,128 — (23 ) 16,105 Certificate of deposit 15,500 20 — 15,520 U.S. treasury securities 5,004 — — 5,004 Total cash equivalents and marketable $ 240,298 $ 25 $ (156 ) $ 240,167 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Assets and Liabilities According to the Fair Value Hierarchy, Measured at Fair Value | The following table represents our financial assets and liabilities according to the fair value hierarchy, measured at fair value as of April 30, 2017 (in thousands): Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 18,574 $ — $ — $ 18,574 Commercial paper — 8,989 — 8,989 Marketable securities: U.S. agency obligations — 3,194 — 3,194 Asset-backed securities — 24,720 — 24,720 Corporate notes and obligations — 108,723 — 108,723 Commercial paper — 25,420 — 25,420 Municipal securities — 16,110 — 16,110 Certificates of deposit 25,159 25,159 U.S. treasury securities — 4,993 — 4,993 Restricted cash: Money market funds 15,448 — — 15,448 Total financial assets $ 34,022 $ 217,308 $ — $ 251,330 The following table represents our financial assets and liabilities according to the fair value hierarchy, measured at fair value as of January 31, 2017 (in thousands): Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 49,390 $ — $ — $ 49,390 U.S. agency obligations — 3,249 — 3,249 Corporate notes and obligations — 2,050 — 2,050 Commercial paper — 3,998 — 3,998 Marketable securities: Asset-backed securities — 39,264 — 39,264 Corporate notes and obligations — 105,587 — 105,587 Municipal securities — 16,105 — 16,105 Certificate of deposit — 15,520 — 15,520 U.S. treasury securities — 5,004 — 5,004 Restricted cash: Money market funds 15,446 — — 15,446 Total financial assets $ 64,836 $ 190,777 $ — $ 255,613 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Cost and Accumulated Depreciation and Amortization of Property and Equipment | The cost and accumulated depreciation and amortization of property and equipment are as follows (in thousands): As of April 30, 2017 January 31, 2017 Computer equipment and software $ 17,996 $ 17,981 Office furniture and equipment 4,406 4,350 Leasehold improvements 8,398 8,468 Construction in progress 209 — Property and equipment, gross 31,009 30,799 Less: accumulated depreciation and amortization (20,392 ) (17,695 ) Property and equipment, net $ 10,617 $ 13,104 |
Schedule of Intangible Assets | Intangible assets consisted of the following as of April 30, 2017 (dollars in thousands): Gross Fair Accumulated Net Book Weighted Average Developed technology $ 10,155 $ (5,055 ) $ 5,100 2.7 Customer relationships and other acquired intangible assets 6,125 (5,118 ) 1,007 0.6 Total $ 16,280 $ (10,173 ) $ 6,107 2.4 Intangible assets consisted of the following as of January 31, 2017 (dollars in thousands): Gross Fair Accumulated Net Book Weighted Average Developed technology $ 10,155 $ (4,548 ) $ 5,607 2.9 Customer relationships and other acquired intangible assets 6,125 (4,681 ) 1,444 0.8 Total $ 16,280 $ (9,229 ) $ 7,051 2.5 |
Schedule of Expected Future Amortization Expense of Intangible Assets | The expected future amortization expense of these intangible assets as of April 30, 2017 is as follows (in thousands, by fiscal year): Remaining nine months of fiscal 2018 $ 2,531 2019 2,031 2020 1,140 2021 347 2022 58 Total intangible assets, net $ 6,107 |
Accrued Compensation and Other Accrued Liabilities | Accrued compensation consists of the following (in thousands): As of April 30, 2017 January 31, 2017 Accrued salaries and benefits $ 2,746 $ 2,330 Accrued bonuses 5,879 15,338 Accrued commissions 5,929 11,856 Accrued compensation-related taxes and other 6,155 3,852 Total accrued compensation $ 20,709 $ 33,376 Other Accrued Liabilities Other accrued liabilities consists of the following (in thousands): As of April 30, 2017 January 31, 2017 Accrued taxes $ 1,367 $ 1,585 Deferred real estate costs 86 47 Accrued professional costs 2,422 2,147 Customer deposits 172 301 Deferred sublease income 1,266 861 Accrued self-insurance costs 858 746 Other 6,617 4,231 Total other accrued liabilities $ 12,788 $ 9,918 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual Obligation, Fiscal Year Maturity Schedule | Future minimum lease payments and sublease proceeds under non-cancelable operating leases at April 30, 2017 are as follows (in thousands, by fiscal year): Minimum Lease Payments Sublease Rental Proceeds Net Minimum Lease Payments Remaining nine months of fiscal 2018 $ 9,472 (5,361 ) 4,111 2019 28,319 (13,295 ) 15,024 2020 28,673 (13,693 ) 14,980 2021 28,671 (14,101 ) 14,570 2022 25,705 (10,861 ) 14,844 2023 and thereafter 142,966 (4,278 ) 138,688 Total $ 263,806 $ (61,589 ) $ 202,217 |
Redeemable Convertible Prefer27
Redeemable Convertible Preferred Stock (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Temporary Equity Disclosure [Abstract] | |
Schedule of Authorized, Issued and Outstanding Redeemable Convertible Preferred Stock | The authorized, issued, and outstanding shares of redeemable convertible preferred stock as of April 30, 2017 and January 31, 2017 are as follows (in thousands, except shares): Shares Authorized, Issued Aggregate Liquidation Net Carrying Series A 12,936,594 $ 5,000 $ 4,909 Series B 12,314,006 6,000 5,945 Series C 8,951,868 24,000 23,899 Series D 8,965,178 40,000 39,902 Series E 8,756,093 65,000 64,891 Series F 10,989,008 160,000 155,039 Series F-1 11,994,668 370,875 363,102 74,907,415 $ 670,875 $ 657,687 |
Stock Option Plans (Tables)
Stock Option Plans (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock Option Activity | The following tables summarize stock option activity and related information under the Stock Plans: Options Weighted- Weighted-Average Remaining Aggregate (in thousands) Balance — January 31, 2017 23,239,679 $ 4.67 6.0 $ 319,016 Granted 9,000 17.85 — — Exercised (627,769 ) 2.36 — — Canceled (88,697 ) 10.44 — — Balance — April 30, 2017 22,532,213 $ 4.72 5.8 $ 302,525 |
Schedule of Restricted Stock Activity | Restricted stock activity for our Stock Plans is as follows: Restricted Stock Units Outstanding Number of Weighted- Balance —January 31, 2017 21,374,022 $ 22.36 Granted 2,155,220 14.00 Canceled (279,782 ) 16.61 Vested and converted to shares (37,365 ) 21.99 Balance —April 30, 2017 23,212,095 $ 14.93 |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Financial Information by Reportable Segment | Financial information for each reportable segment was as follows (in thousands): Three Months Ended April 30, 2017 2016 Revenue: Subscription $ 64,671 $ 40,672 Services 14,925 15,813 Total revenue $ 79,596 $ 56,485 Three Months Ended April 30, 2017 2016 Contribution margin: Subscription $ 54,413 $ 32,110 Services 1,622 4,603 Total segment contribution margin $ 56,035 $ 36,713 |
Reconciliation of Segment Financial Information to Loss from Operations | The reconciliation of segment financial information to our loss from operations is as follows (in thousands): Three Months Ended April 30, 2017 2016 Segment contribution margin $ 56,035 $ 36,713 Amortization of acquired intangible assets (944 ) (885 ) Stock-based compensation expense (191,082 ) (5,663 ) Corporate costs, such as research and development, corporate general and administrative and other (86,349 ) (73,681 ) Loss from operations $ (222,340 ) $ (43,516 ) |
Net Loss Per Share Attributab30
Net Loss Per Share Attributable to Common Stockholders (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of the Calculation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders | The following table sets forth the calculation of basic and diluted net loss per share attributable to common stockholders during the periods presented (in thousands, except share and per share data): Three Months Ended April 30, 2017 2016 Numerator: Net loss $ (222,319 ) $ (43,113 ) Denominator: Weighted-average shares used in computing net loss per share, basic and diluted 38,487,424 35,920,537 Net loss per share, basic and diluted $ (5.78 ) $ (1.20 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following outstanding shares of common stock equivalents were excluded from the computation of the diluted net loss per share attributable to common stockholders for the periods presented because their effect would have been anti‑dilutive: As of April 30, 2017 2016 Redeemable convertible preferred stock on an as-if converted basis 74,907,415 74,907,415 Stock options to purchase common stock 22,532,213 24,385,279 Restricted stock units 18,582,856 13,484,336 Total 116,022,484 112,777,030 |
Subsequent Events (Tables)
Subsequent Events (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Subsequent Events [Abstract] | |
Schedule of Pro Forma Adjustments | The pro forma balance sheet data in the table below reflects the sale of common stock, including the underwriter’s exercise of their option to purchase additional shares of our common stock, after deducting the underwriting discounts and commissions, our donation to the Cloudera Foundation and our estimated offering expenses. In addition, the pro forma balance sheet reflects the automatic conversion of all of our outstanding shares of redeemable convertible preferred stock into shares of our common stock, which occurred immediately prior to the completion of our IPO on May 3, 2017. Historical as of Pro Forma Pro forma as of April 30, 2017 Adjustments April 30, 2017 (in thousands) ASSETS Total current assets $ 288,348 $ 236,667 $ 525,015 Total long-term assets 108,778 (4,893 ) 103,885 TOTAL ASSETS 397,126 231,774 628,900 LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) TOTAL LIABILITIES 252,907 (1,190 ) 251,717 Redeemable convertible preferred stock 657,687 (657,687 ) — STOCKHOLDERS' EQUITY (DEFICIT) Common stock 2 4 6 Additional paid-in capital 385,359 893,000 1,278,359 Accumulated other comprehensive loss (513 ) — (513 ) Accumulated deficit (898,316 ) (2,353 ) (900,669 ) TOTAL STOCKHOLDERS' EQUITY (DEFICIT) (513,468 ) 890,651 377,183 TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 397,126 $ 231,774 $ 628,900 |
Organization and Description 32
Organization and Description of Business - Narrative (Details) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ (898,316) | $ (675,997) |
Summary of Significant Accoun33
Summary of Significant Accounting Policies - Cash as Reported on the Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 | Apr. 30, 2016 | Jan. 31, 2016 |
Accounting Policies [Abstract] | ||||
Cash and cash equivalents | $ 51,572 | $ 74,186 | $ 49,691 | |
Restricted cash | 15,448 | 15,446 | 29 | |
Cash, cash equivalents and restricted cash | $ 67,020 | $ 89,632 | $ 49,720 | $ 35,994 |
Summary of Significant Accoun34
Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Apr. 30, 2017 | Jan. 31, 2017 | |
Concentration Risk [Line Items] | ||
Capitalized deferred financing costs | $ 4.9 | $ 2.8 |
Restricted stock units | ||
Concentration Risk [Line Items] | ||
Award vesting period (in years) | 4 years | |
Equity Incentive Plan 2008 | Restricted stock units | ||
Concentration Risk [Line Items] | ||
Award vesting period (in years) | 4 years | |
Subscription Arrangement, Limited Case | ||
Concentration Risk [Line Items] | ||
Revenue recognition period (in years) | 7 years | |
Minimum | Subscription Arrangement | ||
Concentration Risk [Line Items] | ||
Revenue recognition period (in years) | 1 year | |
Maximum | Subscription Arrangement | ||
Concentration Risk [Line Items] | ||
Revenue recognition period (in years) | 3 years | |
Customer Concentration Risk | Accounts Receivable | ||
Concentration Risk [Line Items] | ||
Concentration risk (as a percent) | 21.00% |
Cash Equivalents and Marketab35
Cash Equivalents and Marketable Securities - Schedule of Fair Value of Cash and Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
Marketable securities: | ||
Unrealized Gains | $ 34 | $ 25 |
Unrealized Losses | (130) | (156) |
Total cash equivalents and marketable securities, Amortized Cost | 235,978 | 240,298 |
Total cash equivalents and marketable securities, Estimated Fair Value | 235,882 | 240,167 |
Commercial paper | ||
Marketable securities: | ||
Amortized Cost | 25,417 | |
Unrealized Gains | 4 | |
Unrealized Losses | (1) | |
Estimated Fair Value | 25,420 | |
U.S. agency obligations | ||
Marketable securities: | ||
Amortized Cost | 3,194 | |
Unrealized Gains | 0 | |
Unrealized Losses | 0 | |
Estimated Fair Value | 3,194 | |
Asset-backed securities | ||
Marketable securities: | ||
Amortized Cost | 24,730 | 39,281 |
Unrealized Gains | 2 | 0 |
Unrealized Losses | (12) | (17) |
Estimated Fair Value | 24,720 | 39,264 |
Corporate notes and obligations | ||
Marketable securities: | ||
Amortized Cost | 108,816 | 105,698 |
Unrealized Gains | 16 | 5 |
Unrealized Losses | (109) | (116) |
Estimated Fair Value | 108,723 | 105,587 |
Municipal securities | ||
Marketable securities: | ||
Amortized Cost | 16,115 | 16,128 |
Unrealized Gains | 1 | 0 |
Unrealized Losses | (6) | (23) |
Estimated Fair Value | 16,110 | 16,105 |
Certificates of deposit | ||
Marketable securities: | ||
Amortized Cost | 25,150 | 15,500 |
Unrealized Gains | 11 | 20 |
Unrealized Losses | (2) | 0 |
Estimated Fair Value | 25,159 | 15,520 |
U.S. treasury securities | ||
Marketable securities: | ||
Amortized Cost | 4,993 | 5,004 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Estimated Fair Value | 4,993 | 5,004 |
Money market funds | ||
Cash Equivalents: | ||
Amortized Cost | 18,574 | 49,390 |
Estimated Fair Value | 18,574 | 49,390 |
U.S. agency obligations | ||
Cash Equivalents: | ||
Amortized Cost | 3,249 | |
Estimated Fair Value | 3,249 | |
Corporate notes and obligations | ||
Cash Equivalents: | ||
Amortized Cost | 2,050 | |
Estimated Fair Value | 2,050 | |
Commercial paper | ||
Cash Equivalents: | ||
Amortized Cost | 8,989 | 3,998 |
Estimated Fair Value | $ 8,989 | $ 3,998 |
Cash Equivalents and Marketab36
Cash Equivalents and Marketable Securities - Narrative (Details) - USD ($) | 3 Months Ended | |
Apr. 30, 2017 | Jan. 31, 2017 | |
Cash and Cash Equivalents [Line Items] | ||
Unrealized losses, greater than 12 months | $ 0 | $ 0 |
Minimum | ||
Cash and Cash Equivalents [Line Items] | ||
Marketable securities term | 1 year | |
Unrealized loss, less than 12 months | $ 1,000 | 1,000 |
Maximum | ||
Cash and Cash Equivalents [Line Items] | ||
Marketable securities term | 4 years | |
Unrealized loss, less than 12 months | $ 20,000 | $ 26,000 |
Fair Value Measurement - Sched
Fair Value Measurement - Schedule of Financial Assets and Liabilities According to the Fair Value Hierarchy, Measured at Fair Value (Details) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
U.S. agency obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | $ 3,194 | |
Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 24,720 | $ 39,264 |
Corporate notes and obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 108,723 | 105,587 |
Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 16,110 | 16,105 |
Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 25,159 | 15,520 |
U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 4,993 | 5,004 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | 251,330 | 255,613 |
Fair Value, Measurements, Recurring | U.S. agency obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 3,194 | |
Fair Value, Measurements, Recurring | Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 24,720 | 39,264 |
Fair Value, Measurements, Recurring | Corporate notes and obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 108,723 | 105,587 |
Fair Value, Measurements, Recurring | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 25,420 | |
Fair Value, Measurements, Recurring | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 16,110 | 16,105 |
Fair Value, Measurements, Recurring | Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 25,159 | 15,520 |
Fair Value, Measurements, Recurring | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 4,993 | 5,004 |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | 34,022 | 64,836 |
Fair Value, Measurements, Recurring | Level 1 | U.S. agency obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | |
Fair Value, Measurements, Recurring | Level 1 | Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Corporate notes and obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | |
Fair Value, Measurements, Recurring | Level 1 | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | |
Fair Value, Measurements, Recurring | Level 1 | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | 217,308 | 190,777 |
Fair Value, Measurements, Recurring | Level 2 | U.S. agency obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 3,194 | |
Fair Value, Measurements, Recurring | Level 2 | Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 24,720 | 39,264 |
Fair Value, Measurements, Recurring | Level 2 | Corporate notes and obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 108,723 | 105,587 |
Fair Value, Measurements, Recurring | Level 2 | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 25,420 | |
Fair Value, Measurements, Recurring | Level 2 | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 16,110 | 16,105 |
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 25,159 | 15,520 |
Fair Value, Measurements, Recurring | Level 2 | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 4,993 | 5,004 |
Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | U.S. agency obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | |
Fair Value, Measurements, Recurring | Level 3 | Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Corporate notes and obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | |
Fair Value, Measurements, Recurring | Level 3 | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | |
Fair Value, Measurements, Recurring | Level 3 | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 18,574 | 49,390 |
Restricted cash | 15,448 | 15,446 |
Fair Value, Measurements, Recurring | Money market funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 18,574 | 49,390 |
Restricted cash | 15,448 | 15,446 |
Fair Value, Measurements, Recurring | Money market funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Fair Value, Measurements, Recurring | Money market funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. agency obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 3,249 | |
Fair Value, Measurements, Recurring | U.S. agency obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | |
Fair Value, Measurements, Recurring | U.S. agency obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 3,249 | |
Fair Value, Measurements, Recurring | U.S. agency obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | |
Fair Value, Measurements, Recurring | Corporate notes and obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 2,050 | |
Fair Value, Measurements, Recurring | Corporate notes and obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | |
Fair Value, Measurements, Recurring | Corporate notes and obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 2,050 | |
Fair Value, Measurements, Recurring | Corporate notes and obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | |
Fair Value, Measurements, Recurring | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 8,989 | 3,998 |
Fair Value, Measurements, Recurring | Commercial paper | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Fair Value, Measurements, Recurring | Commercial paper | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 8,989 | 3,998 |
Fair Value, Measurements, Recurring | Commercial paper | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | $ 0 | $ 0 |
Balance Sheet Components - Sch
Balance Sheet Components - Schedule of Cost and Accumulated Depreciation and Amortization of Property and Equipment (Details) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 31,009 | $ 30,799 |
Accumulated depreciation and amortization | (20,392) | (17,695) |
Property and equipment, net | 10,617 | 13,104 |
Computer equipment and software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 17,996 | 17,981 |
Office furniture and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 4,406 | 4,350 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 8,398 | 8,468 |
Construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 209 | $ 0 |
Balance Sheet Components - Narr
Balance Sheet Components - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Depreciation | $ 2.7 | $ 1.5 |
Amortization expense of intangible assets | $ 0.9 | $ 0.9 |
Balance Sheet Components - Sche
Balance Sheet Components - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Apr. 30, 2017 | Jan. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Fair Value | $ 16,280 | $ 16,280 |
Accumulated Amortization | (10,173) | (9,229) |
Net Book Value | $ 6,107 | $ 7,051 |
Weighted Average Remaining Useful Life (in years) | 2 years 4 months 24 days | 2 years 6 months |
Developed technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Fair Value | $ 10,155 | $ 10,155 |
Accumulated Amortization | (5,055) | (4,548) |
Net Book Value | $ 5,100 | $ 5,607 |
Weighted Average Remaining Useful Life (in years) | 2 years 8 months 12 days | 2 years 10 months 24 days |
Customer relationships and other acquired intangible assets | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Fair Value | $ 6,125 | $ 6,125 |
Accumulated Amortization | (5,118) | (4,681) |
Net Book Value | $ 1,007 | $ 1,444 |
Weighted Average Remaining Useful Life (in years) | 7 months 6 days | 9 months 18 days |
Balance Sheet Components - Sc41
Balance Sheet Components - Schedule of Expected Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Remaining nine months of fiscal 2018 | $ 2,531 | |
2,019 | 2,031 | |
2,020 | 1,140 | |
2,021 | 347 | |
2,022 | 58 | |
Net Book Value | $ 6,107 | $ 7,051 |
Balance Sheet Components - Accr
Balance Sheet Components - Accrued Compensation and Other Accrued Liabilities (Details) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
Accrued Compensation | ||
Accrued salaries and benefits | $ 2,746 | $ 2,330 |
Accrued bonuses | 5,879 | 15,338 |
Accrued commissions | 5,929 | 11,856 |
Accrued compensation-related taxes and other | 6,155 | 3,852 |
Employee-related Liabilities, Current | 20,709 | 33,376 |
Accrued Liabilities and Other Liabilities [Abstract] | ||
Accrued taxes | 1,367 | 1,585 |
Deferred real estate costs | 86 | 47 |
Accrued professional costs | 2,422 | 2,147 |
Customer deposits | 172 | 301 |
Deferred sublease income | 1,266 | 861 |
Accrued self-insurance costs | 858 | 746 |
Other | 6,617 | 4,231 |
Total other accrued liabilities | $ 12,788 | $ 9,918 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands | Feb. 08, 2017 | Apr. 30, 2017 | Apr. 30, 2016 | Jan. 31, 2017 |
Operating Leased Assets [Line Items] | ||||
Letters of credit | $ 16,800 | $ 16,800 | ||
Sublease Rental Proceeds, Remaining nine months of fiscal 2018 | 5,361 | |||
Sublease Rental Proceeds, 2019 | 13,295 | |||
Sublease Rental Proceeds, 2020 | 13,693 | |||
Sublease Rental Proceeds, 2021 | 14,101 | |||
Sublease Rental Proceeds, 2022 | 10,861 | |||
Rent expense | $ 2,400 | $ 1,900 | ||
Palo Alto, California | ||||
Operating Leased Assets [Line Items] | ||||
Sublease term | 45 months | |||
Sublease Rental Proceeds, Remaining nine months of fiscal 2018 | $ 1,600 | |||
Sublease Rental Proceeds, 2019 | 4,000 | |||
Sublease Rental Proceeds, 2020 | 4,100 | |||
Sublease Rental Proceeds, 2021 | 4,300 | |||
Sublease Rental Proceeds, 2022 | $ 700 |
Commitments and Contingencies
Commitments and Contingencies - Future Minimum Lease Payments and Sublease Proceeds Under Non-Cancelable Operating Leases (Details) $ in Thousands | Apr. 30, 2017USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Minimum Lease Payments, Remaining nine months of fiscal 2018 | $ 9,472 |
Sublease Rental Proceeds, Remaining nine months of fiscal 2018 | (5,361) |
Net Minimum Lease Payments, Remaining nine months of fiscal 2018 | 4,111 |
Minimum Lease Payments, 2019 | 28,319 |
Sublease Rental Proceeds, 2019 | (13,295) |
Net Minimum Lease Payments, 2019 | 15,024 |
Minimum Lease Payments, 2020 | 28,673 |
Sublease Rental Proceeds, 2020 | (13,693) |
Net Minimum Lease Payments, 2020 | 14,980 |
Minimum Lease Payments, 2021 | 28,671 |
Sublease Rental Proceeds, 2021 | (14,101) |
Net Minimum Lease Payments, 2021 | 14,570 |
Minimum Lease Payments, 2022 | 25,705 |
Sublease Rental Proceeds, 2022 | (10,861) |
Net Minimum Lease Payments, 2022 | 14,844 |
Minimum Lease Payments, 2023 and thereafter | 142,966 |
Sublease Rental Proceeds, 2023 and thereafter | (4,278) |
Net Minimum Lease Payments, 2023 | 138,688 |
Minimum Lease Payments, Total | 263,806 |
Sublease Rental Proceeds, Total | (61,589) |
Net Minimum Lease Payments, Total | $ 202,217 |
Redeemable Convertible Prefer45
Redeemable Convertible Preferred Stock - Schedule of Authorized, Issued and Outstanding Redeemable Convertible Preferred Stock (Details) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
Temporary Equity [Line Items] | ||
Preferred stock authorized (in shares) | 74,907,415 | 74,907,415 |
Preferred stock issued (in shares) | 74,907,415 | 74,907,415 |
Preferred stock outstanding (in shares) | 74,907,415 | 74,907,415 |
Aggregate Liquidation Preference | $ 670,875 | $ 670,875 |
Net Carrying Value | $ 657,687 | $ 657,687 |
Series A | ||
Temporary Equity [Line Items] | ||
Preferred stock authorized (in shares) | 12,936,594 | 12,936,594 |
Preferred stock issued (in shares) | 12,936,594 | 12,936,594 |
Preferred stock outstanding (in shares) | 12,936,594 | 12,936,594 |
Aggregate Liquidation Preference | $ 5,000 | $ 5,000 |
Net Carrying Value | $ 4,909 | $ 4,909 |
Series B | ||
Temporary Equity [Line Items] | ||
Preferred stock authorized (in shares) | 12,314,006 | 12,314,006 |
Preferred stock issued (in shares) | 12,314,006 | 12,314,006 |
Preferred stock outstanding (in shares) | 12,314,006 | 12,314,006 |
Aggregate Liquidation Preference | $ 6,000 | $ 6,000 |
Net Carrying Value | $ 5,945 | $ 5,945 |
Series C | ||
Temporary Equity [Line Items] | ||
Preferred stock authorized (in shares) | 8,951,868 | 8,951,868 |
Preferred stock issued (in shares) | 8,951,868 | 8,951,868 |
Preferred stock outstanding (in shares) | 8,951,868 | 8,951,868 |
Aggregate Liquidation Preference | $ 24,000 | $ 24,000 |
Net Carrying Value | $ 23,899 | $ 23,899 |
Series D | ||
Temporary Equity [Line Items] | ||
Preferred stock authorized (in shares) | 8,965,178 | 8,965,178 |
Preferred stock issued (in shares) | 8,965,178 | 8,965,178 |
Preferred stock outstanding (in shares) | 8,965,178 | 8,965,178 |
Aggregate Liquidation Preference | $ 40,000 | $ 40,000 |
Net Carrying Value | $ 39,902 | $ 39,902 |
Series E | ||
Temporary Equity [Line Items] | ||
Preferred stock authorized (in shares) | 8,756,093 | 8,756,093 |
Preferred stock issued (in shares) | 8,756,093 | 8,756,093 |
Preferred stock outstanding (in shares) | 8,756,093 | 8,756,093 |
Aggregate Liquidation Preference | $ 65,000 | $ 65,000 |
Net Carrying Value | $ 64,891 | $ 64,891 |
Series F | ||
Temporary Equity [Line Items] | ||
Preferred stock authorized (in shares) | 10,989,008 | 10,989,008 |
Preferred stock issued (in shares) | 10,989,008 | 10,989,008 |
Preferred stock outstanding (in shares) | 10,989,008 | 10,989,008 |
Aggregate Liquidation Preference | $ 160,000 | $ 160,000 |
Net Carrying Value | $ 155,039 | $ 155,039 |
Series F-1 | ||
Temporary Equity [Line Items] | ||
Preferred stock authorized (in shares) | 11,994,668 | 11,994,668 |
Preferred stock issued (in shares) | 11,994,668 | 11,994,668 |
Preferred stock outstanding (in shares) | 11,994,668 | 11,994,668 |
Aggregate Liquidation Preference | $ 370,875 | $ 370,875 |
Net Carrying Value | $ 363,102 | $ 363,102 |
Redeemable Convertible Prefer46
Redeemable Convertible Preferred Stock - Narrative (Details) shares in Millions | May 03, 2017shares |
Subsequent Event | Common Stock | |
Temporary Equity [Line Items] | |
Preferred stock conversion (in shares) | 74.9 |
Common Stock - Narrative (Deta
Common Stock - Narrative (Details) - $ / shares | 3 Months Ended | |
Apr. 30, 2017 | Jan. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Common stock authorized (in shares) | 270,000,000 | 160,000,000 |
Common stock par value (in dollars per share) | $ 0.00005 | $ 0.00005 |
Common stock issued (in shares) | 38,821,822 | 38,156,688 |
Common stock outstanding (in shares) | 38,821,822 | 38,156,688 |
Restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock vested (in shares) | 4,584,312 |
Stock Option Plans - Schedule
Stock Option Plans - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 | Apr. 30, 2017 |
Options Outstanding | |||
Options outstanding at the beginning of the period (in shares) | 23,239,679 | ||
Granted (in shares) | 9,000 | ||
Exercised (in shares) | (627,769) | ||
Canceled (in shares) | (88,697) | ||
Options outstanding at the end of the period (in shares) | 22,532,213 | 23,239,679 | 22,532,213 |
Weighted- Average Exercise Price | |||
Options outstanding at the beginning of the period (in dollars per share) | $ 4.67 | ||
Granted (in dollars per share) | 17.85 | ||
Exercised (in dollars per share) | 2.36 | ||
Canceled (in dollars per share) | 10.44 | ||
Options outstanding at the end of the period (in dollars per share) | $ 4.72 | $ 4.67 | $ 4.72 |
Additional Information | |||
Weighted-Average Remaining Contractual Term (Years) | 5 years 9 months 18 days | 6 years | |
Aggregate Intrinsic Value Beginning of Period | $ 319,016 | ||
Aggregate Intrinsic Value End of Period | $ 302,525 | $ 319,016 | $ 302,525 |
Stock Option Plans - Schedule o
Stock Option Plans - Schedule of Restricted Stock Activity (Details) - Restricted stock units | 3 Months Ended |
Apr. 30, 2017$ / sharesshares | |
Number of Restricted Stock Units | |
Number of Restricted Stock Units Outstanding Beginning of Period (in shares) | shares | 21,374,022 |
Granted (in shares) | shares | 2,155,220 |
Canceled (in shares) | shares | (279,782) |
Vested and converted to shares (in shares) | shares | (37,365) |
Number of Restricted Stock Units Outstanding End of Period (in shares) | shares | 23,212,095 |
Weighted- Average Grant Date Fair Value Per Share | |
Weighted- Average Grant Date Fair Value Per Share Beginning of Period (in dollars per share) | $ / shares | $ 22.36 |
Granted (in dollars per share) | $ / shares | 14 |
Canceled (in dollars per share) | $ / shares | 16.61 |
Vested and converted to shares (in dollars per share) | $ / shares | 21.99 |
Weighted- Average Grant Date Fair Value Per Share End of Period (in dollars per share) | $ / shares | $ 14.93 |
Stock Option Plans - Narrative
Stock Option Plans - Narrative (Details) - USD ($) | Apr. 27, 2017 | Mar. 31, 2017 | Mar. 31, 2017 | Apr. 30, 2017 | Apr. 30, 2016 | Jan. 31, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Reserved for issuance under plans (in shares) | 98,577,136 | 66,577,136 | ||||
Intrinsic value of exercised options | $ 7,500,000 | $ 5,900,000 | ||||
Weighted average grant date value of employee options (in dollars per share) | $ 5.63 | $ 11.30 | ||||
Unamortized stock based compensation expense | $ 22,700,000 | |||||
Employee Stock Option | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Option exercise price as percent of fair value (as a percent) | 100.00% | |||||
Award expiration period (in years) | 10 years | |||||
Award vesting period (in years) | 4 years | |||||
Average remaining vesting period (in years) | 1 year 6 months | |||||
Employee Stock Option | Share-based Compensation Award, Tranche One | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting period (in years) | 1 year | |||||
Award vesting (as a percent) | 25.00% | |||||
Employee Stock Option | Share-based Compensation Award, Tranche Two | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting period (in years) | 3 years | |||||
Restricted stock units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting period (in years) | 4 years | |||||
Unamortized stock based compensation expense RSUs | $ 164,600,000 | |||||
Average remaining vesting period (in years) | 1 year 6 months | |||||
Restricted stock vested (in shares) | 4,584,312 | |||||
Restricted stock units | Share-based Compensation Award, Tranche One | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting period (in years) | 1 year | |||||
Award vesting (as a percent) | 25.00% | |||||
Restricted stock units | Share-based Compensation Award, Tranche Two | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting period (in years) | 3 years | |||||
Equity Incentive Plan 2008 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Increase in shares reserved for grant (in shares) | 2,000,000 | |||||
Equity Incentive Plan 2008 | Restricted stock units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting period (in years) | 4 years | |||||
Stock-based compensation expense | $ 181,500,000 | |||||
Equity Incentive Plan 2017 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock reserved for grant (in shares) | 30,000,000 | 30,000,000 | ||||
Restriction on increase to shares outstanding (as a percent) | 5.00% | |||||
Employee Stock Purchase Plan 2017 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restriction on increase to shares outstanding (as a percent) | 1.00% | |||||
Reserved for issuance under plans (in shares) | 3,000,000 | 3,000,000 | ||||
Purchase price (as a percent) | 85.00% | |||||
Maximum ownership interest for plan participation (as a percent) | 5.00% | 5.00% | ||||
Maximum stock value purchased | $ 25,000 | $ 25,000 | ||||
Maximum shares purchased (in shares) | 2,500 | |||||
Minimum | Employee Stock Purchase Plan 2017 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Maximum payroll deduction (as a percent) | 1.00% | 1.00% | ||||
Maximum | Employee Stock Purchase Plan 2017 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Maximum payroll deduction (as a percent) | 15.00% | 15.00% | ||||
Ten Percent Stockholder | Employee Stock Option | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Option exercise price as percent of fair value (as a percent) | 110.00% |
Income Taxes - Narrative (Deta
Income Taxes - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Income Tax Disclosure [Abstract] | ||
Tax provision | $ 650 | $ 500 |
Related Party Transactions - N
Related Party Transactions - Narrative (Details) - Affiliated Entity - USD ($) $ in Millions | Apr. 27, 2017 | Apr. 30, 2017 | Jan. 31, 2017 | Apr. 30, 2016 |
Intel Corporation | ||||
Related Party Transaction [Line Items] | ||||
Ownership interest (as a percent) | 22.00% | |||
Revenue from related party | $ 2.3 | $ 1.6 | ||
Accounts receivable related party | 3 | $ 2.3 | ||
Deferred revenue | 2.8 | $ 2.1 | ||
Cloudera Foundation | Donation to Non-Profit Affiliate | ||||
Related Party Transaction [Line Items] | ||||
Donated common shares (in shares) | 1,175,063 | |||
Cash donation | $ 2.4 | |||
IPO proceeds donated (as a percent) | 1.00% | |||
Other Related Parties | Revenue from Affiliated Companies | ||||
Related Party Transaction [Line Items] | ||||
Revenue from related party | 1.6 | $ 0.9 | ||
Other Related Parties | Accounts Receivable from Affiliated Companies | ||||
Related Party Transaction [Line Items] | ||||
Accounts receivable related party | 1.2 | $ 4.5 | ||
Other Related Parties | Deferred Revenue from Affiliated Companies | ||||
Related Party Transaction [Line Items] | ||||
Deferred revenue | $ 5.2 | $ 5.5 |
Segment Information - Schedule
Segment Information - Schedule of Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Segment Reporting Information [Line Items] | ||
Total revenue | $ 79,596 | $ 56,485 |
Contribution margin | 56,035 | 36,713 |
Subscription | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 64,671 | 40,672 |
Contribution margin | 54,413 | 32,110 |
Services | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 14,925 | 15,813 |
Contribution margin | $ 1,622 | $ 4,603 |
Segment Information - Reconcili
Segment Information - Reconciliation of Segment Financial Information to Loss from Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Segment Reporting Information [Line Items] | ||
Contribution margin | $ 56,035 | $ 36,713 |
Amortization of acquired intangible assets | (900) | (900) |
Loss from operations | (222,340) | (43,516) |
Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Contribution margin | 56,035 | 36,713 |
Segment Reconciling Items | ||
Segment Reporting Information [Line Items] | ||
Amortization of acquired intangible assets | (944) | (885) |
Stock-based compensation expense | (191,082) | (5,663) |
Corporate, Non-Segment | ||
Segment Reporting Information [Line Items] | ||
Loss from operations | $ (86,349) | $ (73,681) |
Segment Information - Narrative
Segment Information - Narrative (Details) - Non-US - Geographic Concentration | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Total Revenue | ||
Concentration Risk [Line Items] | ||
Concentration risk (as a percent) | 26.00% | 25.00% |
Total Assets | ||
Concentration Risk [Line Items] | ||
Concentration risk (as a percent) | 3.00% | 3.00% |
Net Loss Per Share Attributab56
Net Loss Per Share Attributable to Common Stockholders - Schedule of the Calculation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Numerator [Abstract] | ||
Net loss | $ (222,319) | $ (43,113) |
Denominator [Abstract] | ||
Weighted-average shares used in computing net loss attributable to common stockholders, basic and diluted (in shares) | 38,487,424 | 35,920,537 |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (5.78) | $ (1.20) |
Net Loss Per Share Attributab57
Net Loss Per Share Attributable to Common Stockholders - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities (in shares) | 116,022,484 | 112,777,030 |
Redeemable convertible preferred stock on an as-if converted basis | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities (in shares) | 74,907,415 | 74,907,415 |
Stock options to purchase common stock | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities (in shares) | 22,532,213 | 24,385,279 |
Restricted stock units | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities (in shares) | 18,582,856 | 13,484,336 |
Subsequent Events - Narrative
Subsequent Events - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | May 03, 2017 | Apr. 27, 2017 | Apr. 30, 2017 | Apr. 30, 2016 |
Subsidiary, Sale of Stock [Line Items] | ||||
Cash payments of stock issuance costs | $ 1,647 | $ 0 | ||
Subsequent Event | Common Stock | ||||
Subsidiary, Sale of Stock [Line Items] | ||||
Preferred stock conversion (in shares) | 74,900 | |||
IPO | ||||
Subsidiary, Sale of Stock [Line Items] | ||||
Cash payments of stock issuance costs | $ 3,700 | |||
IPO | Subsequent Event | ||||
Subsidiary, Sale of Stock [Line Items] | ||||
Shares issued | 17,250 | |||
Public offering price (in dollars per share) | $ 15 | |||
Aggregate net proceeds from stock offering | $ 233,000 | |||
Underwriting and commissions | 18,100 | |||
Other issuance costs | 5,300 | |||
Donation to Non-Profit Affiliate | Affiliated Entity | Cloudera Foundation | ||||
Subsidiary, Sale of Stock [Line Items] | ||||
Cash donation | $ 2,400 | |||
Donation to Non-Profit Affiliate | Affiliated Entity | Cloudera Foundation | Subsequent Event | ||||
Subsidiary, Sale of Stock [Line Items] | ||||
Cash donation | $ 2,400 |
Subsequent Events - Schedule of
Subsequent Events - Schedule of Pro Forma Adjustments (Details) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
ASSETS | ||
Total current assets | $ 288,348 | $ 349,702 |
Total long-term assets | 108,778 | |
TOTAL ASSETS | 397,126 | 442,544 |
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT | ||
TOTAL LIABILITIES | 252,907 | 268,613 |
Redeemable convertible preferred stock | 657,687 | 657,687 |
STOCKHOLDERS’ DEFICIT: | ||
Common stock | 2 | 2 |
Additional paid-in capital | 385,359 | 192,795 |
Accumulated other comprehensive loss | (513) | (556) |
Accumulated deficit | (898,316) | (675,997) |
TOTAL STOCKHOLDERS’ DEFICIT | (513,468) | (483,756) |
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT | 397,126 | $ 442,544 |
Pro Forma Adjustments | ||
ASSETS | ||
Total current assets | 236,667 | |
Total long-term assets | (4,893) | |
TOTAL ASSETS | 231,774 | |
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT | ||
TOTAL LIABILITIES | (1,190) | |
Redeemable convertible preferred stock | (657,687) | |
STOCKHOLDERS’ DEFICIT: | ||
Common stock | 4 | |
Additional paid-in capital | 893,000 | |
Accumulated other comprehensive loss | 0 | |
Accumulated deficit | (2,353) | |
TOTAL STOCKHOLDERS’ DEFICIT | 890,651 | |
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT | 231,774 | |
Pro Forma | ||
ASSETS | ||
Total current assets | 525,015 | |
Total long-term assets | 103,885 | |
TOTAL ASSETS | 628,900 | |
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT | ||
TOTAL LIABILITIES | 251,717 | |
Redeemable convertible preferred stock | 0 | |
STOCKHOLDERS’ DEFICIT: | ||
Common stock | 6 | |
Additional paid-in capital | 1,278,359 | |
Accumulated other comprehensive loss | (513) | |
Accumulated deficit | (900,669) | |
TOTAL STOCKHOLDERS’ DEFICIT | 377,183 | |
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT | $ 628,900 |